Silico Manganese market is witnessing regular demand in the domestic market, however, Silico Manganese prices remain unchanged.
“The market sees no change as demand in the domestic market is by itself not strong enough to propel prices upwards,” said a trader discussing the trend of the commodity.
SteelMint further learned that imported Manganese Ore prices have marginally edged up but its effects have not been observed yet.
SteelMint assessed Silico Manganese prices at INR 63,000/MT (Ex-Durgapur) and INR 62,000/MT (Ex-Raipur). However, a few producers are quoting above the aforementioned levels.
A source revealed that low inquiries of Silico Manganese from the overseas are weighing down on prices in the domestic market as well.
Despite lowering the prices to entice buying, the market remains relatively inactive with limited buying appetite from overseas markets for Indian Silico Manganese.
Export offers are assessed to be unchanged at USD 950/MT FOB India for 60-14 grade and USD 1050/MT FOB India for 65-16 grade.
On the future outlook, market participants expect the Silico Manganese offers to remain stable until demand for the same rebounds in the seaborne market.
Leave a Reply