Indian Silico Manganese prices remain stable in the domestic and global market amid modest demand. Producers stated that the Silico Manganese market to be stagnant in the present scenario.
SteelMint assessed that due to liquidity crunch in the market with Fiscal year-end, producers are mostly diluting their stocks at this period. Meanwhile, in the global market, Silico manganese suppliers have had to adjust offer prices upwards due to dollar depreciation despite modest overseas demand.
Producers in Raipur are offering at INR 66,500/MT and in Durgapur the price quoted is INR 67,500/MT for 60-14 grade, however, a few deals were also heard at higher rates of INR 68,000/MT. Export prices remained unchanged amid moderate demand, producers are offering 60-14 grade at USD 950/MT and grade 65-16 is being offered at USD 1050/MT.
On the future outlook, there are limited chances for any alteration in prices. Traders quoted that it can only be predicted after the end of Financial Year about where the market goes and hence the prices will be changed thereafter only.
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