The Ferro Manganese market, which has been quiet with limited trade, has witnessed a decline in its price. The demand for Ferro Manganese has been observed to be low as well.
“We are currently under pressure on account of low demand and are forced to cut our offers to garner buying interest,” mentioned a producer source revealing the prime reason for decline in Ferro Manganese offers.
SteelMint assessed Ferro Manganese (70% Mn) offers slipped to INR 72,000/MT (Ex-Durgapur) and INR 73,000/MT (Ex-Raipur).
Overseas demand for Indian origin HC Ferro Manganese is low, with little or no deals concluded in the past week. A producer source from Kolkata stated, “There are limited inquiries with no improvement in sales volume.”
Current export offers for Ferro Manganese grade 70% and 75% are at around USD 1,125/MT and USD 1,175/MT FOB India respectively.
On the future outlook, buying interest in Ferro Manganese could continue to be under pressure, as the industry is facing a lack of demand.
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