High Carbon Ferro Manganese prices are at the same level, with stable demand from end-users.
HC Ferro Manganese prices remain unchanged on steady market condition. In Raipur, Ferro Manganese (70% Mn) is being traded in the range of INR 57,000-58,000/MT. Currently in Durgapur, Ferro Manganese (70% Mn) prices are at around INR 58,000/MT. It has been seen for almost three weeks, Silico Manganese prices have risen sharply. Market sources reported of material shortage as most of the producers have converted back to produce Silico Manganese . The Silico Manganese market is very active and prices are also at a high level. Sources also reported that Ferro Manganese producers are fulfilling the existing bulk orders, and apart from that there is very little demand in the open market.
[su_quote]“The market is steady with firm demand and currently we’re seeing no changes,” remarked a Raipur based producer.[/su_quote]
Export Market
Export market remains dormant as demand for Indian origin High Carbon Ferro Manganese remains low. Export offers for HC Ferro Manganese 70% min. is around USD 970/MT FoB India (East Coast), and HC Ferro Manganese 75% min. is being offered at around USD 1,020-1030/MT FoB India. Indian producers have expressed unwillingness to lower offers as the currency rate is fluctuating. Market sources believe that prices would remain at these levels over the next few weeks as market is witnessing fewer inquiries from Middle East & Japan buyers.
SteelMint assessed that there is little or no possibility for HC Ferro Manganese prices to correct, supported by supply tightness and stable domestic demand.
Exchange Rate: USD 1= INR 59.33
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