Ferro Manganese market has witnessed a prolonged deterioration in its demand followed by sinking prices.
Currently Ferro Manganese is being offered at INR 70,000/MT both (Ex-Durgapur) and (Ex-Raipur).
Demand for Ferro Manganese has been observed to be persistently low, triggered by high manufacturing cost and scarcity of high grade ore in India.
Manganese ore, one of the major components of Ferro Manganese, has also registered fall in its prices and Indian producers are cutting down on offers to conclude sales.
SteelMint assessed that Ferro Manganese is also being imported by India which is further putting stress on its prices.
The export offers have also come down to USD 1100/MT FOB India for Ferro Manganese grade 70% and USD 1160/MT FOB for grade 75%.
It has also been heard that weak demand forced Ferro Manganese producers to halt production after fulfilling their current orders till the demand improves again.
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