India: Ferro Manganese Producers Raise Offers on Rising Manganese Ore Prices

With significant increase in Manganese Ore prices, the producers of High Carbon Ferro Chrome also raised their offers.

The offer price for Grade 70% Ferro Manganese is up by INR 3,000/MT, at INR 78,000/MT (Ex-Durgapur) and (Ex-Raipur).

There is a major shortage of high grade Manganese ore in India and recently, prices of the same have elevated substantially leaving no option to the producers but to increase their offers. Availability of Manganese Ore at high price at Chinese ports had incited the major miners to raise their offers globally.

The ferro manganese export market witnessed better activity and hence offer levels were increased by the producers.

In the export market, Indian producers have raised offer levels amid higher Ore prices. SteelMint assessed export offers for Ferro Manganese 70% min. is at around USD 1175/MT FoB India, and 75% min. is being offered at around USD 1250/MT FoB India.

Market sources reckoned demand is unlikely to rise, but prices are expected to remain firm.