The Ferro Manganese market, which has been quiet for months with limited trade and production, has witnessed a decline in its price. The demand for Ferro Manganese has been observed to be very low as well.
SteelMint assessed that Ferro Manganese is being produced at a low scale due to scarcity of high grade Manganese Ore in India. Ferro Manganese offers slipped to INR 80,000/MT for both (Ex-Durgapur) and (Ex-Raipur). However, even after the prices are down, the buyers are still showing reluctance for making purchase.
The overseas market is also accepting lower offer price for Ferro Manganese as of now. This has led the Indian Ferro Manganese producers to lower their prices further. Weak demand has been the main factor which pulled down the prices of Ferro Manganese. Indian producers have cut the Ferro Manganese export offers to solicit trade. Current export offers for Ferro Manganese grade 70% and 75% are at around USD 1,180/MT and USD 1,260/MT FOB India respectively.
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