Indian manganese alloys producers have raised their offers for silico manganese and ferro manganese on dearer raw material. Producer sources agreed that offer prices are unlikely to rise in the coming week as demand remains lacklustre.
Manganese Ore India (MOIL), has increased prices of various grades by upto 15% for January-March quarter. MOIL have been continuously increasing their prices to match up with the soaring manganese ore prices in the seaborne market. It is to be noted that manganese ore prices in global market have witnessed a steep increase due to rising demand from China and supply shortages.
Furthermore, the Government of India (GoI), with effect from 25 Nov’16, had imposed Anti-Dumping Duty on imports of Met Coke from China and Australia, which has further increased their Cost of Production.
Offer price for silico manganese 60-14 have increased to INR 65,000 /MT (Ex-Durgapur) and INR 66,000 /MT (Ex-Raipur) and ferro manganese 70% min offers have risen to INR 84,000/MT (Ex-Durgapur) and INR 88,000/MT (Ex-Raipur).
The rise in production cost coupled with the poor demand for Manganese Alloys in the domestic market, has made it difficult for Manganese Alloy producers to maintain operating margins.
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