HC ferro manganese prices in the domestic market have been stable for weeks as production levels are low, balanced by weak demand.
Demand for HC ferro manganese remains weak and most people on the selling, as well as the buying side are just waiting to see if the worst is over. Current offers for grade 70% min is INR 46,500 (Ex-Raipur) and INR 47,500 (Ex-Durgapur). Presently there are no big tenders in the ferro manganese market. Seeing this, Indian producers have cut down their production level. Although, there is sufficient material available in the market for which prices remain under pressure.
“Demand has been weak for most of the summer, however, most producers are operating at low level and I don’t see much activity in September too”, said a producer source from Raipur
Ferro Manganese Export Prices Flat on Weakened Rupee
Demand in the export market for HC ferro manganese also remains dormant. Export offers for HC ferro manganese 70% min is around USD 725/MT FoB India (East Coast) and 75% min is being offered at around USD 790/MT FoB India. SteelMint learned from sources that trade activity has been rare in the ferro manganese export market in recent weeks.
“The export market continues to witness lackluster demand and we are getting lesser inquiries for ferro manganese from buyers in India and abroad”, remarked a producer from Kolkata.
End-user demand is essentially stable at a low level and buyers have less interest in making any big volume purchases.
Exchange Rate : USD 1 =INR 66.1
Leave a Reply