Indian Ferro Manganese prices are unchanged on low but constant demand and limited supply.
Ferro Manganese (grade 70% min) offers in India maintain stability at around INR 72,000-73,000/MT (Ex-Durgapur) and (Ex-Raipur). There is little scope of price correction as Manganese Ore prices remain firm. India relies heavily on imported Manganese Ore to produce Ferro Manganese – as producing it requires high grade Manganese Ore. The Chinese alloy and steel market is on a downtrend and in such a scenario, it is the higher grade which is preferred over low and medium grade Ore. Thus, a firm imported high grade Manganese Ore market will leave little scope for a price correction in Ferro Manganese, despite the moderate demand.
Similarly, in the overseas market, demand for Ferro Manganese has been low but regular. Export offers for the commodity were confirmed at USD 1120/MT FOB India for 70% grade and USD 1170/MT FOB India for 75% grade.
On the future outlook, market participants are of the positive view, expecting the price to remain stable as any downward correction in Ferro Manganese price is unlikely.
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