Ferro manganese offer prices soared on increased prices of imported manganese ore although trading activity continued to remain weak.
SteelMint assessed current offers for ferro manganese 70% min is around INR 46,000/MT for both Raipur and Durgapur.
With imported ore prices increasing the cost of producing ferro manganese has risen and therefore it has pushed producers to raise their offer levels. The market was largely quiet, however, and a degree of uncertainty remained.
Ferro Manganese Export Market Finds Sustenance on Increased Imported Ore Offers
Similarly, the export price for ferro manganese rises on high imported manganese ore offers along with some improved demand.
Offers for ferro manganese 70% min is at around USD 700/MT FoB India (East Coast) and 75% min. is being offered at around USD 750/MT FoB India.
Demand for ferro manganese has also returned in the export market. Few ferro manganese deals were heard to be concluded to Far East Asian Countries. “Prices are increasing as sellers have now continued to resist lowering offers due to high cost of production. The near-term price trend is definitely up as there is certain amount of demand also in the export market,” stated a producer from Kolkata.
SteelMint assessed that with imported ore pries increasing the ferro manganese market saw an uptrend but the general demand remained constrained.
Exchange Rate: USD 1 = INR 66.7
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