Select ferro alloy products witnessed firmness following the announcement of the minimum import prices (MIP) on expectations that finished steel prices would rise and result in more procurement of alloys, going forward, informed sources told ISMW.
Offers for silico manganese and ferro chrome rose while ferro silicon, ferro vanadium, ferro manganese, ferro moly, manganese ore and chrome ore prices remained stable.
Ferro silicon: Ferro silicon prices fell by Rs 100 per ton on low levels of procurement by end-users, sources said.
In the north-east, prices hovered around Rs 57,000 per ton in Guwahati. There was no significant change in trading activity in the market.
Sources said the ferro silicon market has been impacted by cheap supplies from Malaysia, where players work under lower power costs. Power constitutes around 60% of the total production cost in ferro silicon production.
Silicon manganese: Silico manganese prices rose by Rs 700 per ton on procurement by steel mills, industry sources said.
Prices in Rourkela stood at around Rs 38,900 per ton owing to lack of activity at the user-end.
The export market remained subdued at $545-600 per ton FOB east coast, unchanged from the previous week, on low demand in the international market.
Indian producers reported that there were inquiries from the Middle East, South East Asia and Latin American countries but confirmed deals were few and far between.
Ferro manganese: Ferro manganese prices remained unchanged on lack of procurement by stainless steel-makers, industry sources said.
Ferro manganese prices in Raipur were quoted at around Rs 39,000 per ton.
In the export market, ferro manganese 70% was quoted at $580-625 per ton FOB as against the same price in the previous week as low demand conditions prevailed. There were lesser enquiries from the international markets, sources said.
HC ferro chrome: HC ferro chrome prices rose by Rs 400 per ton on selective buying in the market, industry sources said.
HC ferro chrome prices were quoted at Rs 56,900 per ton in the Indian market.
Stainless steel plants were seen replenishing ferro chrome stocks as stainless steel flat prices stabilised.
Earlier, prices were down as many producers were sitting on huge inventories and wanting to offload stocks, fearing that the price decline could intensify.
India mainly exports its products to China, Japan and South Korea, the stainless steel production hub of Asia.
Manganese ore and chrome ore: Prices of manganese ore remained stable after falling Rs 1,700 per ton on low buying support a week earlier.
Chrome ore prices also remained unchanged after easing by Rs 1,000 per ton a week earlier.
The last chrome ore e-auction led to reduction in prices of all grades of the product.
Following table gives indicative price (ex-works) of various alloys and ores:
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Ferro Alloys |
Unit |
Size |
Market |
Price (Feb 12, 2016) |
Price (Feb 5, 2016) |
Price (Jan 29, 2016) |
Price (Jan 22, 2016) |
Ferro Silicon |
Rs/Ton ex-works |
70-75% |
Guwahati |
57000 |
57100 |
58000 |
59000 |
Ferro Vanadium |
Rs/kg ex-works |
50% |
|
465 |
465 |
485 |
485 |
Silicon Manganese |
Rs/Ton ex-works |
60-14 |
Rourkela |
38900 |
38200 |
38800 |
39000 |
HC Ferro Manganese |
Rs/Ton ex-works |
70% |
Raipur |
39000 |
39000 |
39000 |
39100 |
Ferro Moly |
Rs/kg ex-works |
60% |
|
555 |
555 |
555 |
555 |
HC Ferro Chrome |
Rs/Ton ex-works |
60% |
Jajpur |
56900 |
56500 |
57400 |
58000 |
Manganese Ore |
Rs/Ton ex-works |
37.5% lumps |
Balaghat |
5000 |
5000 |
6700 |
6700 |
hub of Asia.
Manganese ore and chrome ore: Prices of manganese ore remained stable after falling Rs 1,700 per ton on low buying support a week earlier.
Chrome ore prices also remained unchanged after easing by Rs 1,000 per ton a week earlier.
The last chrome ore e-auction led to reduction in prices of all grades of the product.
Following table gives indicative price (ex-works) of various alloys and ores:
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Ferro Alloys |
Unit |
Size |
Market |
Price (Feb 12, 2016) |
Price (Feb 5, 2016) |
Price (Jan 29, 2016) |
Price (Jan 22, 2016) |
Ferro Silicon |
Rs/Ton ex-works |
70-75% |
Guwahati |
57000 |
57100 |
58000 |
59000 |
Ferro Vanadium |
Rs/kg ex-works |
50% |
|
465 |
465 |
485 |
485 |
Silicon Manganese |
Rs/Ton ex-works |
60-14 |
Rourkela |
38900 |
38200 |
38800 |
39000 |
HC Ferro Manganese |
Rs/Ton ex-works |
70% |
Raipur |
39000 |
39000 |
39000 |
39100 |
Ferro Moly |
Rs/kg ex-works |
60% |
|
555 |
555 |
555 |
555 |
HC Ferro Chrome |
Rs/Ton ex-works |
60% |
Jajpur |
56900 |
56500 |
57400 |
58000 |
Manganese Ore |
Rs/Ton ex-works |
37.5% lumps |
Balaghat |
5000 |
5000 |
6700 |
6700 |
Chrome Ore |
Rs/Ton ex-works |
52-54% |
Barbil |
8600 |
8600 |
9600 |
9600 |
Source: Traders