There has been a substantial increase in the prices of manganese alloys over the last three months. However, prices of ferro chrome have moved southward, a ferro alloy trader told ISMW.
According to the source, prices of ferro manganese, a constituent of the manganese alloy family, were at Rs 38,000 per ton in December 2015 while in March 2016 they were at Rs 42,000-Rs 45,000 per ton.
There has also been a substantial hike in silico manganese prices during the last three months. As per sources, while prices of silico manganese were at Rs 38,000 per ton in December 2015, they shot up to Rs 48,000 per ton.
The weakening of the rupee vis-à-vis the euro and US dollar could be the main reason, he informed.
The source further said while prices of ferro silicon rose marginally in the last three months, that of ferro chrome actually went southward in this same period. The price of ferro silicon 75% produced by 5-6 Bhutanese firms, was at Rs 56,000-Rs 57,000 per ton in December which rose marginally to Rs 58,000 per ton in March.
On the other hand, prices of ferro chrome went down from Rs 55,000 per ton in December to Rs 53,000 per ton in March.