27th January 2022 – current scenario from India

Some information about the current scenario for ferro alloys from India: prices for Mn alloys in India keep increasing day by day. Producers do not have material to offer as they are sold out till the end of February. Moreover, the prices of coal and coke have increased as well, due to which the producers have increased their prices. Further, since Chinese market is strong, and the Chinese will be on Holidays by the end of January, the producers in India are very bullish as they expect a strong market ahead. Since they are well covered in their sales, there is no pressure to sell at lower levels.

Ocean freight has gone up too, it was around 220 USD pmt, it has increased 50 USD in almost one week.