Prices for ferro manganese moved down, as market participants said there were very interested buyers in the market.
SteelMint assessed current offers for ferro manganese 70% min is in the range of INR 43,000-44,000/MT for both Raipur and Durgapur.
Looking at the decline in sales volumes, Indian based ferro manganese producers have decided to cut their offers to consummate trade. Uncertainty continued to surround in the market as buying interest from steel mills is very weak.
Ferro Manganese Export Market Still Depressed
Ferro manganese export market is weak with a downtrend in demand from overseas players.
Offers for ferro manganese 70% min at around USD 650/MT FoB India (East Coast) and 75% min. is being offered at around USD 700/MT FoB India.
“There’s no business being done and the lack of interest is not surprising given the lack of end-user demand from international buyers for quite long now,” stated a producer from Kolkata.
The Feero Manganese market continued to see a lack of activity for months, with sources citing reasonable inventory levels and an uncertain outlook in the steel market as constant headwinds.
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