High Carbon Ferro manganese prices remain unchanged in the market W-o-W on strong & steady offers from end users.
In the Indian market, HC Ferro Manganese prices have seen no changes for the past two months as demand remained firm with limited supply in the open market. In Raipur, Ferro Manganese rates are settled around INR 57,500- 58,000/MT (70%Mn) and INR 62,000/MT (75%Mn). Currently in Durgapur, prices for Ferro Manganese are around INR 57,500/MT (70% Mn). Market participants reported of limited availability of the material as there is too much pressure of bulk orders.
[su_quote]A producer source from Raipur remarked, “Generally speaking most Ferro Manganese producers are resisting any discount on offers and most steel mills would be willing to purchase at the current price, as the market is unlikely to drop below this mark.”[/su_quote]
Export Market
In the export market, prices remain firm on persistent strong demand from international buyers. Export offers for HC Ferro Manganese 70% min is around USD 925/MT FoB India (East Coast) and 75% min is being offered at around USD 1,010/MT FoB India. The situation in Ukraine could be starting to have an effect on the Ferro Manganese export market as Ukraine exports around 15,000 MT annually and contributes 1% to the Ferro manganese export market. Indian producers should be facing better overseas demand in the days to come.
On the future outlook, market sources reckoned rates were unlikely to continue rising at the pace seen presently, but expected the market to remain firm.
Exchange Rate: USD 1= INR 61.06
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