India: Ferro Manganese Offers Unchanged; Demand Moderate

Ferro Manganese market remains stable amid low but constant demand.

"Our inventory levels are low as most of the commodity is getting sold easily aided by low production levels of the commodity," said a producer source.

Adding to this, another source mentioned that most of the produced commodity is sold but demand is not as high.

A recent increase in Manganese ore offers supported the Ferro Manganese offers but limited demand might remain an obstacle.

SteelMint assessed Ferro Manganese offers at INR 75,000-76,000/MT (Ex-Durgapur) and (Ex-Raipur).

Demand from overseas is also moderate as inquiries from European countries are still awaited. However, buyers from Middle-Eastern and South-East Asian countries are active.

Export offers are assessed at USD 1150-1175/MT FOB India for 70% grade and USD 1125-1150/MT FOB India for 75% grade.

On the future outlook, the market participants expect the Ferro manganese offers to remain stable while demand to rebound is awaited from Western countries.