Indian Silico manganese prices remain unchanged in Durgapur and reduced marginally in Raipur. Market participants believe that the prices may remain stable for now. Producers are quoting higher prices inline with some recent upcoming demand, but any hiked prices were not accepted by the buyers, said a Ferro Alloys producers. Steelmint learned that the producers are maintaining the prices despite weak demand in the domestic market. In the present scenario, the export market looks better than the domestic market, market sources revealed.
Prices in Durgapur remained unchanged, while in Raipur the offers were down by INR 250/MT. In Durgapur, Silico Manganese 60-14 is being offered in the range of INR 65,500-66,000/MT Ex-Durgapur. In Raipur, the prices are at INR 66,000/MT. In the Export market, the demand remains moderate, producers are offering 60-14 grade in the range of USD 950/MT and 65-15 is being offered at USD 1040/MT.
On the future outlook, it is anticipated that the producers with higher inventory may reduce their prices to lower their stock. However, this situation may affect existing prices and bring down the prices slightly.
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