[Ferro-Alloys.com] The current Market prices of Silico Manganese are highly volatile and fluctuating due to increase prices of Manganese Ore in the International Market.

Now, Indian producers are offering today’s current price for 60-14% grade Silico Manganese at  Rs. 63,000/- INR PMT Ex- plant basis, and for export market price quoting & trading at  US $940-950/ MT FOB.

Basis for 60-14% grade material and 65-15% grade Silico Manganese quoting & trading at US $1150-1160, PMT USD FoB Basis, although the producers are further to try to push up the prices. There is a fairly wide range on prices at the moment as some producers bought ore when prices were cheaper a few weeks ago, and are able to offer alloy at the lower end of the range. There does seem to be some scope for prices to increase further once these cheaper ore stocks are used up.

The production of Ferro Manganese curtailed by Indian Producers in comparison the Indian material too much costlier in the export market the production is unviable to produce the Ferro manganese in India. Some cheap of FeMn likely to be import in India.

Now, the prices are increase of Imported Manganese Ore prices is around USD 9.15 DMTU.  In Comparison MOIL Ltd. India also have increased their Manganese ore price with effect from 1 st, Dec 16, for Ferro Grade & Chemical grade – 30 % price increased for Silico Manganese & Low grade 25% price increase, When once earlier old stock of ore exhausted and established new price at record level in the market. Accordingly alloys prices would be in increase substantially Again we are waiting for increase the prices of Manganese ore of MOIL from January onwards.

Indian producers are producing Alloys in a full capacity almost all the units have been started due to present viability in the Production of Manganese Alloy. In Chhattisgarh, West Bengal, & Andhra Pradesh Cluster.  Suppliers of Indian silicon-manganese are focusing on trade in the domestic as well as with other countries in South East Asia.

Recently the Govt. of India have taken the demonestation move of the Indian Currency  hence the whole economy  of steel industry is bracing for uncertainty over the next fortnight with the government’s demonetisation move likely to hit smaller companies in the secondary steel sector, which mostly do business on cash.  The decision is also expected to hurt rural demand, which picks up after the monsoon season, especially for construction-grade steel. Large, integrated big players are expected to benefit in the medium to longer term, due to which the retail steel demand may shift to the organized trade.

• [Editor:Chen Zhen Seng]