India: Ferro Manganese Prices Holds Firm Amid Low But Constant Demand

Indian Ferro Manganese prices remain unchanged as it witnesses limited but continuous demand.

"Demand is moderate and booking for November deliveries are almost over," said a producer discussing the market trend for the commodity. Moreover, he also remarked that higher Manganese Ore prices also lent support to Ferro Manganese offers.

SteelMint assessed Ferro Manganese offers stable at INR 72,500/MT (Ex-Durgapur) and (Ex-Raipur).

Similarly, in the overseas market, demand has been unable to gain much of a momentum. As per a source, the producers are currently engaged in fulfilling previous orders and are not entertaining new inquiries.

Export offers for the commodity were last heard at USD 1120/MT FOB India for 70% grade and USD 1170/MT FOB India for 75% grade.

On the future outlook, Ferro Manganese prices are expected to maintain stability.