Ferro manganese market remained flat this week as there is continued low demand from end-users.
SteelMint assessed current offer prices for 70 % Mn is settled at INR 39,000/MT (Ex-Raipur) and INR 38,000/MT (Ex-Durgapur).
Ferro manganese market has been quiet with very few transactions. Traders indicated stable prices due to low production levels and slow-as-usual demand from end users. Looking at the dull market condition a producer source from Raipur stated, “The market has been quiet for some time, with low prices and slack demand, buying activity remains constrained.”
Ferro manganese Export Prices Stable on Sparse Trading
Export market remains dormant as demand for Indian origin ferro manganese remains low. Export offers for 70% min. is at around USD 580/MT FoB India (East Coast), and 75% min. is being offered at USD 625/MT FoB India.
“There is uncertainty in the export market and it is extremely tough to find willing buyers because they are either hesitating at the side or giving us extremely low bids,” remarked a producer from India.
Market sources reported of bearish sentiment prevailing over the ferro manganese market and so prices are expected to remain checked in the near future.
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