On January 29, SteelOrbis reported offer prices for Indian domestic ferromanganese at INR 73,500-74,000/mt ($1,154-1,162/mt) ex-warehouse.
According to market sources, domestic ferromanganese offer prices in India have declined due to limited demand and are presently at INR 72,200-72,600/mt ($1,125-1,131/mt) ex-warehouse. The new price range declined $29/mt from the bottom of the previous range $31/mt from the top of the same range. While the offers declined INR 1,300-1,400/mt ($20-22/m), the decline in dollar terms was more pronounced due to some softening of the INR against the dollar over the past week.
USD= INR 63.65 (Jan 29)
USD= INR 64.17 (Feb 2)