Participants reported that Indian ferromanganese price keeps stable as expected this week as prices for the high carbon ferromanganese 70% is hovering around at INR49,000-50,000/t (USD990-1,010/t) ex works. Based on the performance of the steel mills, not many variations are expected in the weeks to come.
An Indian producer with an output of less than 1,000t of high carbon ferromanganese 70% notes that the rate for the material is at INR49,000-49,500/t (USD990-1,000/t/t) ex works this week, no change from last week, and he made some small-quantity deals with foundries at INR49,500/t (USD1,000/t) ex works these days. “The enquiries are increasing from consumers, we hope they can turn into deals early next month,†said the source.
“Although the market is still inactive, I anticipate the market will improve gradually as it is expected that the demand from export market will increase next month,†said the source.
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