The much awaited revival in Ferro Alloys Market that was expected to be seen the month
of July is still missing. Buying interest in the domestic market is poor and as
a result prices have corrected further by Rs 250-500/MT
* Raipur: Silico Manganese 60/15 is quoted
at around Rs 54,500-55,000/MT. According to a top official from a major
manufacturing company, “Demand is low but product cost remains high. So,
further rate cuts are not viable. Production level is around 75% but demand is
much lower. Prices in the near term should stay at the current levels. No major
upward or downward revision in prices is seen so far”.
* Odisha: Silico Manganese 60/15 trades at
Rs 54,500- 55,000/MT, i.e. down by Rs 500/MT from the previous week. “Market
is dull. Production level in Southern India is much lower due to the power
crisis. We were expecting to see a revival in July but it is still not seen &
buying interest is low”, remarked a manufacturer in Odisha.
* Durgapur: Silico Manganese 60/14 trades at around Rs 54,500- 55,000/MT. “We do not expect to see much
improvement in the July-Aug. Moreover, Govt. has approved the price pooling of
coal which is turn is expected to hike the power tariffs further. So, this will be a matter of concern for plants dependent on state owned power. Chances are
less for a sharp correction in prices in the near term as production cost will remain high”, said a top official from
a manufacturing company in Durgapur.
* Vizag: Silico Manganese 60/14 in domestic
market is quoted at Rs 54,750- 55,000/MT. “Domestic market for Silico
Manganese is weak but there is some enquiry for exports which is in lesser quantities.”,
said a manufacturer in Vizag.
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