Activities slowed down further this week in the Ferro Alloys
market. “Off-take is very slow and prices remained almost same apart from few
minor corrections”, say market participants.
* Raipur: Silico manganese
60/15 in Raipur traded at Rs 56,500-57,000/MT. “The seasonal slowdown in steel sector has affected the domestic demand. Enquiry
for export is almost nil as Europe is still on a holiday mood. Shipping cost per
container has also moved up by $150/MT for June Shipments. Freight from Vizag to
Rotterdam now costs around $1800 per container. So, this has also affected the
market sentiments.
* Durgapur: Silico manganese 60/14
material in Durgapur trades at Rs 55,500-56,000/MT. “Demand is low.
Production cost is too high and we are not even able to meet our variable cost
at the current prevailing prices. So, further correction in prices would not be
sustainable. We are a bit positive for July. Things should improve by then”, said
a manufacturer based in Durgapur.
* Vizag: Silico
Manganese 60/14 in Vizag is offered at Rs 56,500/MT. According to a top
official from a leading manufacturing company, “Market is dull at present.
Prices may fall further by Rs 500/MT. New enquiries are not being heard. The
latest export done for Silico Manganese 65/15 was at around Rs 67,300-500/MT
Ex-Plant. Power is a major issue in Andhra Pradesh. Power cut at 6-10.00 PM in the night is
persisting from a long time. Production level is at 60%.”
Another to a trader in Coimbatore
said, “Ferro Silicon HC 70-75% is quoted at Rs 68,000-69,000/MT Ex-Meghalaya.
Overall market is dull with very few enquiries being heard.”
Leave a Reply