Indian manganese alloys producers have reduced their offers marginally for silico manganese and ferro manganese on weak demand. But, dearer raw material limits scope of any further price correction. Producer sources echoed the same sentiment that cost of production has increased substantially and if the market conditions don’t improve they will be left with no option but to shut shop. Moreover, the market is too quiet to attract traders, thus restricting trading volumes.
Offer price for silico manganese 60-14 stood at INR 62,500 /MT (Ex-Durgapur) and INR 63,000 /MT (Ex-Raipur) and ferro manganese 70% min stood at INR 80,000/MT (Ex-Durgapur) and INR 82,000/MT (Ex-Raipur).
In the current market situation, steel mills continue to make hand-to-mouth manganese alloy purchases.
The rise in production cost coupled with the very poor demand for manganese alloys in the domestic market, has made it almost unviable for manganese alloy producers to operate at present.
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