Indian Ferro Manganese manufacturers have raised their offers by Rs 500-1,000/t this week over expensive manganese ore and power prices. Current offers in Raipur and Durgapur are hovering around Rs 53,000- 54,000/t (Ex Works).
“Offers have gone up primarily due to higher input cost despite weak demand, manufacturers have no other option. Also proposed hike in electricity charges in Chattisgarh, will further hamper margins.” said a trader based in Raipur.
Manufacturers are anticipating MOIL manganese ore prices for 2nd quarter will come down (In 1st Qtr it was increased by 9-10%).
On the other hand manufacturers based in eastern part of India have also raised offers amid high raw material prices and falling Rupee, which has made imports expensive by almost 7-8%.
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