Indian Silico Manganese prices continue to be depressed. However, the prices are unchanged at the start of this week despite low demand. Most market sources believe that the prices will go further down. Producers are facing selling pressure as the buyers are quite aggressive at negotiating. Demand is weak in both domestic as weak as the global market. Producers believe that the prices are aggressively coming down due to low demand, and there is a very little chance that the prices may redeem soon. Any increase can be experienced not before mid next month.
Demand for Silico Manganese is low and the overall market remains depressed. In Durgapur, Silico Manganese 60-14 is being offered at INR 64,500/MT Ex-Durgapur. In Raipur, the prices are at INR 63,000/MT Ex- Raipur. In the Export market, the demand remains moderate; producers are offering 60-14 grade at USD 900-920/MT and 65-16 is being offered at USD 1000-1020/MT.
On the future outlook, prices of Silico Manganese are to remain under pressure and prices are anticipated to go below the present levels. Any rise in prices is therefore highly unlikely owing to the timid demand.
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