Ferro Manganese prices plunged further as demand for the same fails to improve in the market.
SteelMint assessed that the high cost of the Ferro Manganese in contrast to its substitute is one the factors for low demand. Additionally, the production of Ferro Manganese has also been observed to be flat due to scarcity of high grade ore in India.
Currently Ferro Manganese is being offered at INR 76,000/MT (Ex-Durgapur) and INR 78,000/MT (Ex-Raipur).
SAIL Ferro Manganese Tender
SAIL had invited a tender from indigenous manufacturers for tentative purchase of 38,650 MT ferro manganese for its different plants. The Bid submission due date and the Techno-commercial opening date is on 14 Feb’16.
Export Market
The European market brings in a positive vibe as prices for Ferro Manganese the buyers are accepting higher prices for Ferro Manganese. The Indian Ferro Manganese producers are seen bullish about the same and kept their export offers unchanged at USD 1,260/MT and USD 1,180/MT for grade 75% and 70% respectively. VALE, one of the largest Brazilian Ferro Manganese producers, are currently not producing. This has supported the sentiment of Indian producers of getting better offers from seaborne market.
Leave a Reply