On sluggish end-user demand in the domestic market, High Carbon Ferro manganese prices remain on the same level, as market participants continue to lament low volume of deals concluded.
High Carbon Ferro manganese demand in the market remains restrained, as end-user buying indication is unmoved owing to stable offer. Current prices for 70% grade are settled at INR 57,000/MT (ex-Raipur) and INR 57,500–58,000/MT (ex-Durgapur). In Durgapur, where power shortage is more severe, mainstream prices are now firm but participants confirmed few producers are still open to bids at the lower price range, especially for advance payments.
“We can’t raise the price now because of low demand from steel mills. However, most producers are operating at low level,” said a producer source from Raipur.
Export Market
The export market for Indian origin HC Ferro manganese has continued to be flat W-o-W. Export offers for HC Ferro Manganese 70% min is at around USD 930/MT FoB India (East Coast) and 75% min is being offered at around USD 1,020/MT FoB India. Prices remain steady and shown no signs of improvement.
SteelMint evaluated the market will remain stable at present with continuous low demand & production.
Exchange Rate: USD 1= INR 61.12
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