Indian manganese sellers have adjusted prices, demand remains weak

Export prices of Indian silicomanganese (65%Mn; 16%Si) are mainly in the range of $1180-1250/ton FOB, compared with $1200-1280 FOB a week ago. Export prices of alloy (60%Mn; 14%Si) are $1120-1140 FOB (previously $1120-1210 FOB). However, some sellers offered higher prices, but they were not supported by transactions. High carbon ferromanganese (75%Mn) was offered at $1190-1230 FOB (previously $1200-1270 FOB a week ago), with most suppliers offering prices close to the lower end of the range. Sales opportunities for Indian manganese alloys remain limited by fierce competition and low consumption in major external markets. Exporters contacted by West Asia said that no inquiries have been received for a week, as buyers are not in a hurry to complete transactions, and many have adopted a wait-and-see attitude, preferring to see whether Indian suppliers reduce prices further. According to West Asia Communication, "most customers are not actively making inquiries, probably because they are unwilling to buy new batches at the current high prices. At the same time, despite the lack of transactions, future discounts are questionable. "It should be noted that manganese ore prices may continue to rise, but this will not affect costs soon because producers' ore stocks will not be used up until June." This week, the demand in the Indian domestic market was not satisfactory. Silicon manganese (60%Mn; 14%Si) was quoted at 90,000-93,000 rupees/ton (1077-1113 US dollars/ton) EXW, a week-on-week decrease of 2,000 rupees/ton. Ferromanganese (70%Mn) quotes have stabilized in the range of 93,000-95,000 rupees/ton (1113-1137 US dollars/ton) EXW.The quotation range for fervanadium (75-80%V) is US$26.2-26.6/kg V DDP (last weekend it was US$25.6-26.5/kg V DDP).

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