HC Ferro manganese demand and prices continued to be shackled by a subdued steel market.
High Carbon Ferro manganese prices were at the same level this week, as market remained largely stable and trading slowed down. Current prices for 70% Mn grade are settled at INR 51,000/MT (ex-Raipur) and INR 52,500/MT (ex-Durgapur). Indian producers said there was no sign of pickup in inquiries from consumers as the steel market in general is met with very poor demand.
Export Market
Demand for Indian origin HC Ferro manganese is low at the price levels offered by the producers, with less or no deals concluded from the past week. No deals could be confirmed this week in the export market as sources pegged tradable prices in the same range as before. Export offers of 70% min are stagnant at around USD 825/MT, FoB East Coast India and 75% min at around USD 920/MT, FoB East Coast India.
SteelMint assessed the market anticipates prices to remain stable in the near-term amid production cut for Ferro manganese.
Exchange Rate : USD 1 = INR 61.91
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