Indian Ferro Manganese producers reduced their offers on low Manganese Ore prices and low off-take of the Alloy.
“Demand for the commodity has been constant and there has been an agreement among the market participants regarding price,” said a producer source justifying the price equilibrium in the market.
“The market is smooth as both the sellers as well as the buyers are satisfied with the price levels at which deals are being concluded,” said another source.
Earlier, high Manganese Ore prices in the global market had prompted the Ferro Manganese producers to raise their offers, but a lower pricing of the commodity has eased their difficulty in finding deals with lower offers.
SteelMint assessed Ferro Manganese offers at INR 77,000/MT (Ex-Durgapur) and (Ex-Raipur).
A source claimed that production of the commodity in India is limited and hence the producers are contented with the demand they are receiving.
However, demand from overseas remains stagnant, though some inquiries are regularly received from the Middle-East countries.
Export offers are assessed at USD 1100/MT FOB India for 70% grade and USD 1200/MT FOB India for 75% grade.
On the future outlook, Indian Ferro Manganese price is expected to remain stable while any minor adjustment in prices cannot be ruled out.
Leave a Reply