* India: According to a top official from a major manufacturing company,
“Market is on a recovering mode. Buyers in Middle East, Japan and Europe
who had held their purchases previously are slowly coming back. Buying should
improve next month & prices are expected to shoot up then. Deals for SiMn
65/15 & Ferro Manganese HC 75% was
heard at $1080 & $1050 FOB Vizag/Haldia respectively”.
“Freight cost in
September is also expected to move up by $200-250/MT. So, this could be another
factor behind the anticipated price rise in Sep”, said a major exporter from
Vizag.
* Europe: European traders also believe that prices should improve in the coming
weeks as supply is limited. “Supply of Silico Manganese in Rotterdam is tight
and we are expecting to see prices rise in early September when end users
return to market for large volume procurement,” remarked a Ferro Alloys trader.
* China: Chinese Silico Manganese market has been
almost stagnant with very few deals taking place. Market players expect the market to move downward in the coming
month and buyers prefer to wait and watch.
* US: Activities
in US Ferro Alloys market remain dull with no improvement in sales. However,
Ferro Silicon prices have increased by a small margin over the past week but it
is not because of an uptick in activities but lower availability of the
product.
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