Indian Ferro Manganese prices has been constantly losing its ground as demand failed to revive.
The prices of Indian Ferro Manganese has been constantly falling and despite that too there are no takers for Indian Ferro Manganese. It has also been noted that some imports into India have also been taking place, thereby further reducing demand for the Alloy. The current offers for Indian Ferro Manganese are set at INR 68,000 (Ex-Raipur) and INR 67,000 (Ex-Durgapur).
Earlier, MOIL has also cut the manganese ore prices by 15-25% which turned out to be a setback for manganese alloys. Low demand from China forced manganese ore producers to cut their prices throughout the globe.
The export prices remains unchanged as there has been no inquiry for Indian Ferro Manganese from overseas. The Indian producers have stemmed their prices at USD 1100/MT FOB India for Ferro Manganese grade 70% and USD 1160/MT FOB for grade 75%.
It has been heard that some Indian producers have completely stopped their production of Ferro Manganese, until demand improves.
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