Indian Ferro Manganese prices remain unchanged on low but constant demand and limited supply.
“The commodity is getting sold easily what with production levels remaining constantly on the lower side,” said a producer.
Seconding him, another source added that most of the produce is being sold out but demand continues to remain flat.
A recent spurt in Manganese ore offers by MOIL has supported Ferro Manganese offers but limited demand might remain an obstacle.
SteelMint assessed Ferro Manganese offers at INR 74,000/MT (ex-Durgapur) and (ex-Raipur).
“Demand from overseas is below expectations as exports to Iran have hit a roadblock due to US sanctions against the Islamic Republic,” said an exporter. Although inquiries from Asian countries are constant, buyers might resist any hike in prices, he rejoined.
Export offers are assessed at USD 1,100/MT FOB India for 70% grade and USD 1,175/MT FOB India for 75% grade.
As regards future outlook, market participants expect Ferro manganese offers to remain stable while hoping demand to gain some momentum.
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