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Weekly round-up: Ferro alloys prices decline on bleak outlook

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Silico Manganese

BigMint Bureau

534 Reads

15 Jul 2023, 17:36 IST

Weekly round-up: Ferro alloys prices decline on bleak outlook

This week, market uncertainty and a bleak outlook caused prices of ferro alloys to decline.

Sub-commodity-wise overview

Manganese ore prices decline on slow demand

Imported manganese ore prices into India for grade Mn: 37-46% inched down 1% w-o-w. Mn 37% was assessed at $3.8/dmtu; Mn44% at $4.6/dmtu; and Mn46% at $4.95/dmtu. All prices are CIF India.

Indian silico manganese prices soften on weakening steel sentiments

Indian silico manganese (60-14) prices marginally dropped by up to 2% w-o-w to INR 65,600-69,750/t exw-Durgapur, Raipur and Vizag, as assessed on 14 July. Demand for silico manganese was low as a result of falling steel prices and sluggish global market trends, with buyers looking for lower offers.

Ferro manganese prices remain firm

Indian ferro manganese (HC70%) prices remained firm w-o-w amid low export inquiries and poor demand for special steel. According to SteelMint's assessment on 14 July, ferro manganese offers were hovering at around INR 68,250-69,100/t exw-Durgapur and Raipur.

India ferro chrome prices fall further, market awaits OMC auction outcome

Indian ferro chrome (HC60%) prices fell further this week by around INR 1,200/t to around INR 100,800/t exw-Jajpur, as assessed on 13 July, due to sluggish demand and gloomy outlook on the Chinese market.

In addition, market participants are also eagerly awaiting the results of the upcoming Odisha Mining Corporation (OMC) auction, which will take place on 19 July.

Ferro silicon prices drop on weak demand

According to SteelMint's assessment on 14 July, ferro silicon prices in India were at INR 108,700/t ex-Guwahati, down by INR 700/t w-o-w. Prices fell as sellers sold material apprehending further price cuts even as demand remained weak. Offers from Bhutan fell by 200 INR/t over the course of the week but offers stayed essentially same at INR 109,600/t.

IEX power

According to the Indian Energy Exchange (IEX), the weekly average spot price (9 July- 15 July) in the day-ahead-market increased by 8% w-o-w to INR 4.722/unit as against INR 4.376/unit last week.

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