Q1 (April- June)- A firm quarter & some cheer
Manganese alloys
traded firm as consumers started to take positions and it helped in holding the
prices firm. Weakening Rupee against Dollar did bring some cheer for Indian
Exporters but they could not reap much benefits from it as buying interest from
Europe was almost nil owing to the Euro Zone crisis.
Q2 (July-Sep)- A quarter of cascading events
MOIL hiked manganese
ore prices by 12.5-15% for Q2
Activities were
subdued as the seasonal slowdown in steel sector affected the domestic demand.
Enquiries in export market were also low as Europeans were on a holiday mood.
Cutback in steel
production levels lowered the buying interest.
Production levels
fell to 50% following the increase in power tariffs by the State Governments
and prolonged major power cuts throughout India.
Prices corrected
sharply as market was dull and there are very few buyers.
Tata Steel launched
India’s first branded ferro alloys- TATA SILICOMAG
Q3 (Oct-Dec)- Some improvement but only at the end
Steel capacity
cutbacks subduded the much anticipated revival in Ferro Alloys market.
Stock clearance
drive at most of the ferro alloys producing units pulled down silico manganese
and ferro manganese prices further in the Indian market
However, prices
improved slightly by the end of the quarter on some improved demand in the
export market ahead of Christmas & New Year Holidays.
Leave a Reply