Indian silicomanganese 65/16 export market continues the downward trend this week with export prices going down further, according to the sources. Given current global economic environment, it is expected that the export market will remain soft throughout this year.
An Indian producer with current output of about 4,000tpm of silicomanganese notes that the rates for silicomanganese 65/16 are at USD1,075/t FOB India this week, a decrease of USD25/t against that of late last month, while they have not concluded any fresh deals for three weeks. “We got fewer enquiries than before and we gave our best offers for them, while they bargain for much lower price which left us no profit to achieve,†said the source.
“Under the influence of world economic crisis, the demand from Europe and Japan has decreased and we expect the market will not rebound soon. Therefore, we have reduced our output and only produce according to the orders,†added the source.
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