Prices of Ferro Manganese in the Indian market increased due to high manganese ore prices
SteelMint assessed the current price for grade 70% min for Raipur at around INR 58,000/MT (USD 880) and Durgapur is at INR 56,500/MT (USD 855). Prices have increased by INR 2000-3000/MT due to recent increase (by 20-25%) in manganese ore prices by MOIL.
However, domestic demand for ferro manganese remains moderate at these levels. Indian producers mention that buyers are reluctant to buy as prices are quiet high.“Domestic demand is yet to pick up. Manufacturers are waiting for SAIL’s 15,000 MT Ferro Manganese tender which is expiring on 18th Oct ” stated a producer.
Indian Export Offers not Viable
Ferro manganese export market is weak with no keen buying interest from overseas players. Currently, there are no offers for Indian-origin ferro manganese in the export market, with very few players producing Ferro Manganese as high grade manganese ore is scarce and very costly too.
Sources said a lack of deals and spot demand stymied any price movement. “There are fewer enquiries, there is no improvement in volume of sales. Overseas buyers are looking for 70% at around USD 730/MT FOB and 75% at USD 760/MT FOB India. Domestic prices are much higher than that.” stated an exporter from Vizag.
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