SAIL, one of the major steel producers in India, floated a tender to procure 20,440 MT of High Carbon ferro manganese for its various plants. The requirement of the material is for a period of 4 months, starting Sept–Dec’15. The techno-commercial bid had revealed that 12 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 two markets:
Market-I (Bhilai Steel Plant)
Market-II (Bokaro Steel Limited, Durgapur Steel Plant, IISCO Steel Plant, Alloy Steel Plant)
L1 (lowest) LCNS price for Market-I has been fixed at INR 45,079/MT and for Market-II at INR 42,105/MT.
L1 price is inclusive of freight; CST/VAT and Entry Tax as applicable.
Domestic FeMn 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 44,000-44,500 /MT. However for larger quantities, deals were being concluded at even lower levels.
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