India: Ferro Manganese Prices Unchanged Amid Lacklustre Market
Indian Ferro Manganese prices remained unchanged from the previous week in both domestic as well as export market. Domestic market is still highly affected by the Malaysian imports
Many producers have stopped their production and won’t end the shutdown till the market has recovered as they cannot offer at such lower levels. However, this scenario has somehow benefited a few producers who are privileged to produce at lower cost are still continuing with their productions and are getting moderate demands.
Market participants reported that presently the market is more inclined towards the buyers, and the buyers are demanding material at lower levels. Ferro Manganese prices are at INR 72,000/MT Ex-Raipur. In Durgapur, deals were concluded at a range of INR 71,000 - 72,000/MT Ex-Durgapur. For bulk quantities deals were done at closer to INR 71,000/MT in Durgapur. Export offers are also unchanged W-o-W. Export quality HC70% is being offered at USD 1030/MT FOB India and HC 75% is offered at USD 1120/MT FOB India.
On the future outlook, producers are still optimistic and believe that the prices may not fall further and will stay at the present levels in line with limited production in the country.
source: SteelMint
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