Ferro Manganese offers witness a marginal fall as its demand fails to rebound.
Domestic Ferro Manganese market remained static as the current prices seem acceptable to both buyers and sellers, amid little change expected due to raw material cost.
With an increase in offers of high-grade Manganese Ore, the producers of High Carbon Ferro Manganese are also of looking forward to correct their prices upwards.
However, a low production of the commodity owing to lacklustre in its demand has prompted the producers to keep prices relatively firm.
SteelMint assessed Ferro Manganese offers firm at INR 74,000/MT (Ex-Raipur) while in Durgapur, the prices of the commodity edged down to INR 73,000-74,000/MT.
The export prices remain unchanged as there has been hardly any inquiry for Indian Ferro Manganese from overseas. “Though we have been received some inquiries from Europe but it is lower than predicted,” said a producer source revealing that the export offers remain unchanged.
Export offers are assessed at USD 1,125/MT FOB India for 70% grade and USD 1,200/MT FOB India for 75% grade.
In the future outlook, Ferro Manganese offers are expected to remain stable but the market participants are of the view that the same may see an upward trend due to rise in raw material cost. However, the margin for those producers will be more-or-less similar until demand for the commodity rebounds.
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