On March 16, SteelOrbis reported offer prices for Indian domestic ferromanganese up, compared to early February at INR 76,000-76,500/mt ($1,169-1,177/mt) ex-warehouse. The price increase was attributed to strong global manganese ore prices.
Sources inform SteelOrbis that prices are now reportedly at INR 73,000-74,000/mt ($1,082-1,097/mt) ex-warehouse. Prices declined $87/mt from the bottom of the previous range and $80/mt from the top of the same range. The fall in domestic prices is attributed to low demand in the Indian market and softness in the domestic ferromanganese prices in China.
USD= INR 65.01 (Mar 16)
USD= INR 67.44 (May 11)