Indian Ferro alloys market remained quiet this week with
prices almost unchanged. However, market players expect to see some improvement
in July.
* Raipur: Silico
Manganese 60/15 trades at Rs 56,500/MT i.e. down by Rs 500/MT from the
previous week. Export offers also went down to $1050/MT (FOB
Haldia). “Sentiments are weak as Dollar
is again rising against Rupee. However, we expect to see improvement in the next week or in early July”, said a top
official from a major manufacturing company.
The GRI (General Rate of Increase) for India i.e. the
adjustment of Ocean Freight Charges by shipping companies is expected to see a rise
in July due to shortage of containers for shipments.
“Lower imports due to volatility in Dollar & increased
export of food grains has lead to the shortage of containers this year &
the GRI for July shipments is expected to move up by $100-150 per container”,
the official added while commenting on the ocean freights.
* Odisha: Silico
Manganese 60/14 trades at Rs 56,000/MT. “Market is dull at present but it may
improve by second week on July as European buyers are expected to be back in
the market”, remarked a manufacturer in Odisha.
* Durgapur: Silico
Manganese 60/14 trades at Rs 55,000- 56,000/MT. “Power shortage has kept the
production level low” remarked a top official from a major manufacturing
company.
Speaking about the Export market he added, “Prices have shown a
downward trend in the past one month. Fewer enquiries are heard but no one is in a
buying mood. Ferro Manganese HC 75% in a recent tender at Taiwan was bid at $
1120/MT but the deal was concluded somewhere below $1100/MT.”
“Buying in Europe was almost nil in last one month. Stock at major
European ports like Rotterdam is also high. So, the scenario for July is still
not clear. Buyers are expected to be back in July but it should be a gradual process
as the stockiest would like to clear their stock first.”, he added further.
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