Indian Ferro Alloys market exhibits low demand and fall in
prices. Following is the area wise highlight of various markets:
* Raipur: (SiMn) 60-15 in Raipur is being
quoted at Rs 57,000/MT i.e. down by Rs 1000/MT from the quotes seen last
week. “Demand is low both domestically and internationally. Market
may continue to show a weak trend. ” said a top official from a major
manufacturing company.
* Durgapur: Prices in Durgapur have also fell by
Rs 1000/MT. SiMn 60-15 trades at Rs 58,000-59,000/MT. According to market
players, “Buying interest is very low and future looks uncertain”.
* Odisha: SiMn 60-14 trades at Rs 57,000/MT. Whereas,
High carbon (HC) ferromanganese 70-75% trades at Rs 56,000/MT i.e. down by Rs 500/MT.
According
to market players in Odisha, “Demand is weak but market has bottomed out. Further price
correction is not feasible as production cost is too high owing to rise in manganese
ore prices and hike in power tariffs”.
“In the International market, some suppliers is South Africa had shut their plants for maintenance purpose. So, Indian exporters were able to cater the supply gap for European buyers. But now the plants have started operations, so this may hit India's export demand in the coming weeks”, he added further.
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