There are some positive movements in Indian ferromanganese market as the demand rebounds gradually these days. At present, the price for the high carbon ferromanganese 70% is lingering around at Rs 48,000-50,000/MT (USD874-912/t) ex works. Players expect the current market price to prevail in the coming weeks.
An Indian producer with an output of 2,500 MT of high carbon ferromanganese 70% notes that the rate for the material is at Rs 49,000-50,000/t (USD970-990/MT) ex works this week, no change from last week, and he expects the new purchasing price will jump to this level within one or two weeks. “Consumers start to place some orders these days and the operation rate is low, so I think the prices will prevail in the same level in the coming weeks,” said the source.
“It is natural that the price increased these days since many producers have suffered the losses with production costs increasing. I expect the price will hold in the weeks to come,” said the market participants.
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