Offers
for Ferro Alloys in India remain unchanged with sluggish demand. However,
market sources expect prices to move up in the mid of this month in line with
high power cost and MOIL's take on Mn Ore.
Raipur: Silico
Manganese 60/15 offered same at Rs 55,500/MT from last week.
According
to a major mill official, “However, Prices are expected to correct slightly
by Rs 500/MT this week, but it will rebound in the mid of the month on the back
of MOIL's revision of Mn ore prices by 3% in this week. Moreover, high power
cost has already hiked the production cost. So, selling below the current level
would not be sustainable.”
In
addition, Offers remained
stable for SiMn 60/15 Rs 56,500-57,000/MT from
Odisha: Offers
for Ferro Alloys remained unchanged in Odisha for all the grades. “Prices may
fall further as buyers are not taking interest on the current offersâ€Â, said a
top official in Odisha
Durgapur: Silico
Manganese 60/14 trades same at around Rs 56,000/MT.
Vizag:
Offers for SiMn 60/14 remained stable at Rs 55,500/MT Ex Vizag. However, In a
recent deal, SiMn 60/14 was heard being sold at Rs 56,000/MT Ex Plant (for
export)
“Demand
remained subdued and prices are likely to remain range bound now onwards. High
raw material prices has restricted producers to keep their offers flat”, said a
market source
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