Ferro Alloys market remains dull

Indian Ferro Alloys market remains dull with prices almost
same and buying interest being low.

India:

* Raipur:  (SiMn)
60-15 in Raipur is being quoted at Rs 58,000-59,000/MT i.e.  same as last week.  “Demand at present is weak.
Manufacturers are unwilling to cut their prices as electricity cost remains high.
Whereas, buyers prefer to wait and watch. As a result prices are
unchanged,” said a top official from a major manufacturing company.

* Durgapur: Prices in Durgapur also remain unchanged. Both
SiMn & FeMn trades at the same level that was seen in the previous week. According to
market players, “It is feared that if demand continues to lag behind production
then some plants could begin to shut down operations for carrying out scheduled
periodic maintenance”.

* Odisha: SiMn 60-15
trades at Rs 59,000-60,000/MT. High carbon (HC) ferromanganese 70-75% however,
traded between Rs 56,500-58,000/MT. 
Whereas, Ferro Chrome of 60-65% HC traded between Rs 69,000-71,000/MT.

Prices in the international market also remained unchanged. Buyers
wait for Dollar to stabilize.

Europe: European Silico Manganese market witnessed some
price fall last week with possibilities of further depreciation in prices as sources
reported that there are plenty of material available in the European market.The price for SiMn 65/17 is between
EUR1,000-1,050/MT DDP. 

US: Sales in the US silicomanganese market continues to keep
a slow pace and it does not look to improve in the near-term, said sources. Most
of the market participants expect prices to keep their current range for the
rest of the quarter.