Market participants reported that the Ferro Manganese market is witnessing more inquiries from overseas buyers, while prices remain steady. Current prices of HC Ferro Manganese in Raipur stand at Rs. 52,500 (70% Mn) and Rs. 56,000 (75% Mn). In Durgapur, HC Ferro Manganese is trading at Rs. 53,000 (70% Mn) and Rs. 56,700 (75% Mn). All prices are basic and per metric tonne.
A Ferro Manganese producer revealed to SteelMint that some traders from the Middle-East are in India to book material for August delivery, with deals to Dubai and Iran already concluded by the Company. Export offers for HC Ferro Manganese 75% min. is being offered in the range of $ 950 – 960 /MT, FOB India (East-coast).
SteelMint learned from market sources that with the increase in demand from overseas buyers, Indian producers of HC Ferro Manganese are gearing to produce higher grade material (75% Grade) to meet the demand.
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