Mn ore shortage keeps Mn alloy prices up in India
2007-10-02 09:05:47 【Print】
BEIJING (Asian Metal) 2 Oct 07 – Indian manganese alloy market continues to witness tight supply of materials due to scarcity of manganese ore, although demand is more or less stable, only production of the alloys that are low. meanwhile, participants foresee price increasing if the scarcity of raw material persist.
A producer source informed that there is shortage of manganese ore making production of manganese alloy tight , making it difficult to meet up with the demand. The plant has not been offering material for sales due to old contracts that are yet to be fulfilled. About 100t of SiMn 60/14 grade was sold last week around INR45, 000-46,000/t (USD1, 133-1,158/t) ex-works. Although the plant is not producing high carbon ferromanganese at the moment, the source said price is around INR50, 000/t (USD1,259/t) ex-works for 70% Mn grade.
A reliable trader source confirmed that manganese alloy market is tight in India, and prices have been going up due to shortage of manganese ore that prompted producers to be working around 50% capacity. He said demand is almost the same, but supply is lower, which is the reason why prices are going up. He ordered about 2,000t last week at the price of INR48, 000-49,000/t (USD1, 209-1,234/t) for 70-75% HC FeMn and INR46, 000/t (USD1, 158/t) ex-works for 60/14 SiMn grade. “Production came to a standstill about two weeks ago when rainfall affected mining of manganese ore,” the source aired.
Another trader source also confirmed that manganese alloy market is very tight due to limited material supply, he said the price of high carbon ferromanganese 70% Mn and silicomanganese 60/14 are the same at around INR47, 000-48,000/t (USD1, 184-1,209/t) ex-works.
