Indian Ferro Manganese Prices Influenced by Malaysian Imports
Indian Ferro Manganese prices fell consecutively, for the last two weeks due to low demand in the domestic market. Producers are wary of prices falling further in the market.
SteelMint learned from sources that if the prices continue to fall further, they may suffer losses due to this many producers have already stopped their Ferro Manganese production.
Indian Ferro Manganese prices are being deeply affected by high grade Malaysian Ferro Manganese imports. Imports of HC 75% grade were concluded in the range of USD 1040 - 1060/MT, which is equivalent to the HC 70% offers for domestic prices in India. The Malaysian plants have low power tariffs as compared to India which enables them to produce high grade material at much lower cost.
Ferro Manganese prices were lowered down to INR 73,000- 74,000/MT Ex-Durgapur and INR 73,000/MT Ex-Raipur. Export prices also decreased by USD 10/MT for both HC70% and HC75%. Export quality HC70% is being offered at USD1040/MT and HC 75% is offered at USD 1120/MT FoB India.
On the future Outlook, if the prices continue to fall in the market at the present rate, producers may suffer loses and will hold production till the market regains stability. However, producers are still optimistic and believe that the prices may not fall further and will stay at the present offer levels.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
