There was a smart rally in silico manganese and HC ferro manganese prices on March 17.
Prices of both the materials were up by Rs 2,000 per ton in the Rourkela and Raipur markets, respectively.
Offers for ferro silicon were down by Rs 500 per ton in Guwahati.
Ferro silicon: Ferro silicon prices fell Rs 500 per ton to Rs 56,500 per ton on low procurement by end-users, sources said.
In the north-east, prices hovered around Rs 56,500 per ton in Guwahati.
Silicon manganese: Silico manganese prices rose Rs 2,000 per ton on restocking of manganese alloys by steel mills, industry sources said.
Prices in Rourkela stood at around Rs 47,400 per ton owing to lack of activity at the user-end.
The export market rose to $620-650 per ton FOB east coast as against the same price in the previous week, on stable 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 rose Rs 2,000 per ton on restocking by stainless steel-makers, industry sources said.
Ferro manganese prices in Raipur were quoted at around Rs 44,000 per ton.
In the export market, ferro manganese 70% was quoted at $610-650 per ton FOB as against the same price in the previous week as demand prevailed. There were higher enquiries from the international markets, sources said.
HC ferro chrome: HC ferro chrome prices remained unchanged on low 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 have been replenishing ferro chrome stocks as inventory levels have come down.
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 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 |
17-Mar-16 |
16-Mar-16 |
16-Feb-16 |
19-Sep-15 |
18-Mar-15 |
||
FERRO SILICON |
GUWAHATI |
56,500 |
57,000 |
56,600 |
65,300 |
70,000 |
FERRO VANADIUM |
|
455 |
455 |
465 |
625 |
740 |
SILICON MANGANESE |
ROURKELA |
47,400 |
45,400 |
38,900 |
45,900 |
46,700 |
HC FERRO MANGANESE |
RAIPUR |
44,000 |
42,000 |
39,000 |
45,800 |
47,000 |
FERRO MOLY |
|
548 |
548 |
555 |
660 |
855 |
HC FERRO CHROME |
JAJPUR |
56,900 |
56,900 |
56,900 |
62,800 |
67,800 |
MANGANESE ORE |
BALAGHAT |
5,000 |
5,000 |
5,000 |
6,700 |
8,400 |
CHROME ORE |
BARBIL |
8,600 |
8,600 |
8,600 |
12,600 |
15,000 |
Source: Compilation from various sources & ISMW data