Ferro Alloys prices in the Indian market have fell despite of a rise
in prices of manganese ore, the key raw material to manufacture Ferro Alloys.
Silicomanganese (SiMn) 60-15 in Raipur is being quoted at Rs
58,000-59,000/MT, which was quoted at Rs 61,000/MT last week.
According to a top official in Raipur, “Demand is low both
in domestic & international market. Power tariff hike in April has pushed up Ferro
Alloys prices in the beginning of May but poor demand has pulled down the prices this week”.
Speaking about the international market he further added, “Volatility
in Dollar & economic crisis in Europe has kept the market quiet.
Offers for SiMn 65-16 is heard at around $ 1,200/MT CFR Europe.”
According to market participants in Durgapur, “Demand has been
low since the past week due to higher prices. Manufacturers are not in a
position to pass on the current hike in Manganese ore prices as demand is low
and they need sufficient cash flow to settle the revised electricity bills that they have received after the power tariff hike”.
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