Indian ferro-manganese market has not seen many variations this week . The price for the high carbon ferro-manganese 70% is hovering around at INR49,000-50,000/MT ex works.
Market players anticipate the market will stay stable in the next few weeks until the steel market picks up.
An Indian producer with an output of around 900t of high carbon ferromanganese 70% notes that the rate for the material is at INR49,000/t (USD990t/t) ex works this week, no change from last week, and he closed some deals with local consumers at INR48,500/t (USD980/t) ex works this week.
“More customers come to inquire the prices, but they still prefer the hand-to-mouth buying pattern for the moment. It will need some time for the buyers to gain the confidence,†said the source.
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