Indian state-owned steelmaker Steel Authority of India Limited’s bid to procure 44,000 mt of high-carbon ferromanganese alloy has failed to secure any supplier through the tender route with most suppliers citing the surging price of manganese, an official at a leading ferroalloy producer said on Monday, November 14.
The official said that no domestic ferroalloy producer is keen to put in bids for supply tenders floated by SAIL, as securing the contract through competitive bidding is not found viable by ferroalloy producers with domestic manganese prices rising by around 200 percent over the last four months.
He said that SAIL sought supplies from domestic ferroalloy producers with deliveries in two lots over two cycles of three months each.
But in view of the steadily rising prices of manganese in the domestic market, ferroalloy producers are not confident of meeting supply commitments at fixed prices of alloys over the delivery period, he added.