Export market for Ferro Alloys in India remains dull due to weak sentiments in Europe. Silico Manganese 60-14 continues to trade at
the range of $980- 1025/MT FOB Haldia. Whereas, Ferro Managnese HC 75%
traded slightly lower at $1050/MT FOB Haldia.
SteelMint interacted with a top official from one of the
largest producers of Manganese alloys located in Durgapur, India and found out that, “Fero Alloys market at present is
witnessing a setback in prices. Material for shipments is also available in lesser
quantities due to production constraints. Weak sentiments in Euro Zone is
likely to keep the Export
market dull for another 15-20 days. But it should improve by the mid of July.”
Speaking about the
domestic market he added, “Domestic market is not as dull as the export market.
But yes, the producers would not prefer to keep the production level high owing
to rise in power tariffs. Market witnessed a similar situation last year in
November, when producers offered discounts to boost sales. But buyers were also
well verse with the market trend and they waited for more price cuts.
Ultimately, the producers had to stop producing rather than selling bellow the
production cost.“
Speaking about the price trend in the next fortnight, he said, “Production level is
already low in both the major producing areas like Durgapur & Hyderabad
owing to the ongoing power crisis. Silico Manganese 60-14 in Durgapur trades at around Rs 56,000/MT and these are the bottom level.
So, no major cut back in prices is seen in the next fortnight. However, it may
fall slightly to infuse some buying interest.“
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