Ferro Manganese prices in India slipped over the past couple of days, as sellers dropped their offers to consummate trade deals. There is limited or no activity in the market, and these are worrying times for the Ferro Manganese industry as it is proving impossible for Ferro Alloy prices to gain traction when steel prices are so weak. Current prices of HC Ferro Manganese in Raipur stand at Rs. 52,500-53,000 (70% Mn) and Rs. 56,500-57,000 (75% Mn). In Durgapur, HC Ferro Manganese is trading at Rs. 53,500 (70% Mn) and Rs. 57,000 (75% Mn). All prices are basic and per metric tonne.
Ferro Alloy companies in the coming months of the monsoon season would be operating on weaker margins as raw material costs would increase yet demand from steel mills would be under pressure. SteelMint assessed this to be another reason for prices to drop as markets are witnessing more sellers than buyers.
International steel prices have also been on a downward trend in the current year, reflecting the weakness in major Manganese Alloy consuming regions such as China, U.S. and the European Union. In the export market Indian HC Ferro Manganese is being offered at the same levels, HC Fe Mn 75 $1020-1050 /MT ; and HC Fe Mn 70 $ 970/MT , FOB India (any port). The lingering uncertainties in the market have kept foreign buyers on the sidelines, with limited or no deals done.
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