Ferro Manganese producers in India have kept their offer prices unchanged on account of low but constant demand.
Indian HC Ferro Manganese market is witnessing sporadic deals and stable prices at the moment. “Despite regular inquiries, there is no improvement in deals,” remarked a producer source referring to non-acceptability of higher prices in overseas market. SteelMint learned that the producers are witnessing steady demand and are low in inventory but unable to increase price.
The Ferro Manganese export offers are assessed to be stable at USD 1135/MT for 70% and USD 1210/MT for 75% grade.
In line with the same, domestic prices are also kept unchanged as Indian producers are more dependent on domestic sales. “The global distributors have set a benchmark for Ferro Manganese as of now and offers above it might not yield desired sales,” mentioned another source pointing the prime reason for unchanged prices.
Post GST there has been a uniformity in prices where Ferro Manganese is being offered offered in the range of INR 73,000-74,000/MT (Ex-Durgapur) and (Ex-Raipur).
The present trend suggests Ferro Manganese market to remain stable in the near-term with buying interest expected to be low but prices to remain stable on account of low production.
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