SAIL, one of the major steel producers in India, floated a tender to procure 16,500 MT of High Carbon ferro manganese for its for its Bhilai Steel Plant. The techno-commercial bid had revealed that 5 plants had participated in the tender.
The online reverse auction tender process has also been completed and the material to be purchased shall be covered under:
Market-I (Bhilai Steel Plant)
L1 (lowest) LCNS price for Market-I has been fixed at INR 54,270/MT.
L1 price is inclusive of freight; CST/VAT and Entry Tax as applicable. According to sources, L1 for the tender has been awarded to Hira Power, L2 – Sarda Energy, and L3 – Maithan Alloys. L1 Tenderer will get maximum share of order volume.
Domestic Ferro Manganese Prices
Affected by very weak demand, Indian producers have been constantly reducing prices to generate buying interest for ferro manganese. SteelMint assessed that the current price for 70% min grade is around INR 45,000 /MT in the open market. However for larger quantities, deals were being concluded at even lower levels.
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