Ferro alloy product prices remained volatile as producers tracked the uncertain steel market ahead of the annual Union Budget, informed sources told ISMW.
Offers for ferro vanadium, silico manganese, ferro manganese, manganese ore and chrome ore remained unchanged. Ferro moly and ferro chrome prices fell marginally. Ferro silicon offers, however, rose Rs 2,000 per ton on enquiries.
Ferro silicon: Ferro silicon prices rose Rs 2,000 per ton to Rs 58,600 per ton on procurement by end-users, sources said.
In the north-east, prices hovered around Rs 58,600 per ton in Guwahati.
Silicon manganese: Silico manganese prices remained unchanged on low 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 rose to $620-640 per ton FOB east coast as against $545-600 per ton FOB east coast in the previous week, on revival in 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 fell Rs 700 per ton on low buying in the market, industry sources said.
HC ferro chrome prices were quoted at Rs 56,200 per ton in the Indian market.
Stainless steel plants were not replenishing ferro chrome stocks as stainless steel prices remained flat.
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 despite low buying support a week earlier.
Chrome ore prices also remained unchanged.
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:
Prices of ferro alloys in various markets during the past one year (Rs/ton):
PRODUCT |
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
25-Feb-16 |
24-Feb-16 |
18-Feb-16 |
25-Jan-16 |
29-Aug-15 |
||
FERRO SILICON |
GUWAHATI |
58,600 |
58,600 |
56,600 |
59,000 |
65,000 |
FERRO VANADIUM |
|
465 |
465 |
465 |
485 |
655 |
SILICON MANGANESE |
ROURKELA |
38,900 |
38,900 |
38,900 |
39,000 |
45,900 |
HC FERRO MANGANESE |
RAIPUR |
39,000 |
39,000 |
39,000 |
39,100 |
46,400 |
FERRO MOLY |
|
548 |
555 |
555 |
555 |
675 |
HC FERRO CHROME |
JAJPUR |
56,200 |
56,200 |
56,900 |
58,000 |
63,500 |
MANGANESE ORE |
BALAGHAT |
5,000 |
5,000 |
5,000 |
6,700 |
6,700 |
CHROME ORE |
BARBIL |
8,600 |
8,600 |
8,600 |
9,600 |
12,300 |
Source: Traders