The ferro manganese export market is mostly quiet, as international and domestic buyers continued to steer away from procurement.
Buying interest from the overseas ferro manganese market was very thin.
“There is very little buying interest and prices continue to slide as suppliers cut offers aggressively to secure consumer demand,” stated a trader from India.
Indian producers are offering ferro manganese 70% min at around USD 650/MT FoB India (East Coast), and 75% min. is being offered at around USD 700/MT FoB India.
The total exports of ferro manganese in the month of May’16 was 5,635 MT, with 1,631 MT was exported to Pakistan, 1,400 MT to U.A.E and 594 MT to Iran.
Domestic Ferro Manganese Prices dip on back of Weak Demand
According to sources, weak end-user demand has forced low prices on Indian high-carbon ferro manganese producers.
SteelMint assessed current offers for ferro manganese 70% min is around INR 45,000/MT for both Raipur and Durgapur. The ferro manganese market has been quiet for some time, with low prices and slack demand as trading remains constrained.
On the future outlook, sell-side sources reported difficulties making deals, as buy-side participants have retreated to the sidelines expecting further declines in downstream steel prices.
Leave a Reply