Coal news and updates

Ferro alloys prices slightly up on low availability

Prices of ferro alloys in India have inched up a bit on lower availability levels even though demand from the domestic consuming sectors still continues to remain low, industry sources said.

“The overall condition of ferro alloys producers continues to remain bad though there has been a slight improvement in prices, which have gone up by about Rs 3,000-3,500 per ton, largely because availability of the material has fallen drastically,” they said.

“But the increase in prices has not brought any cheer to most of the producers, who have already stopped manufacturing the material. At present, supply is low because a large number of plants are closed and that is why there is slight improvement in prices,” said an official from a ferro alloys producing company.

According to this official, prices have inched up not because of increase in demand, but mainly on account of shortage in supply.

“It is not that prices have improved because demand has increased. Demand is almost unchanged, but it is the supply (or lack of it), which is helping prices to improve in both the domestic and export markets,” said another official.

The price of silico manganese (60-14) is currently (as on March 02) quoted at about Rs 41,000 per ton as against the earlier price of Rs 37,500 per ton, while that of 65% material is around Rs 43,500 per ton against the earlier price of around Rs 40,000 per ton prevailing two months back, he said.

There has not been not much improvement in ferro chrome prices either, which is hovering around 60 cents, he added.