Indian manganese alloys producers have raised their offers for silico manganese and ferro manganese on dearer raw material. Producer sources speculated that offer prices could go on rising in the coming week as cost of production has increased substantially.
Manganese Ore India (MOIL), has increased prices of various grades by upto 30% for Dec’16. MOIL generally fixes its prices on quarterly basis, but soaring sea-borne manganese ore prices, has prompted the miner to increase its offer on a monthly basis.
Furthermore, the Government of India (GoI), with effect from 25 Nov’16, has imposed Anti-Dumping Duty on imports of Met Coke from China and Australia, which will further increase their Cost of Production.
Offer price for silico manganese 60-14 stood at INR 68,000 /MT (Ex-Durgapur) and INR 68,000-70,000 /MT (Ex-Raipur) and ferro manganese 70% min stood at INR 80,000/MT (Ex-Durgapur) and INR 82,000/MT (Ex-Raipur).
The rise in production cost coupled with the very poor demand for Manganese Alloys in the domestic market, has made it almost unviable for Manganese Alloy producers to operate at present.
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