NINL looks to buy 500 MT of High Carbon Ferro Manganese through MMTC

Neelachal Ispat Nigam Limited (NINL) has set up an Integrated 1.1 million ton capacity Iron and Steel Plant at Kalinga Nagar Industrial complex, Duburi, District Jajpur, Orissa. Steel making facility having Basic Oxygen Furnace (BOF) and Continuous Casting machine will be producing steel billets. MMTC  Ltd. has the mandate to procure a projected quantity of 500 MT High Carbon Ferro Manganese (Mn: 70%, C: 6-8% ) for NINL. 

The last date for submission of bids is 10th June, 2013.

Indian HC Ferro
Manganese market not expected to recover in the near-term

HC Ferro Manganese demand continues to wane and prices remain at last week’s levels on limited production, trading in the range of Rs. 52,000 – 52,500 /MT for FeMn 70%. SteelMint assessed that the cost of producing Ferro Manganese is higher in comparison with Silico Manganese, as high-grade Ore is required to produce Ferro Manganese. Moreover, Ferro Manganese needs to be mixed Ferro Silicon for the Silica properties, owing to the financial constraints Steel mills prefer to use Silico Manganese. A Ferro Manganese trader shared his views on the current market scenario, he said, “Liquidity is thin, and lower prices seem powerless in stimulating transactions.”

In the export market there has been no interest in Indian origin HC Ferro Manganese as the Indian producers are not price competitive against the aggressive Chinese and Japanese producers, the latter owing to the weakened Yen are able to sell at much lower prices in the foreign market. A Ferro Manganese producer remarked, “I don’t think the prices have much room to drop, but I can’t say when it can rebound either.”