Silico Manganese prices in Raipur remained stable amid tight supply scenario. Although the demand is tepid, yet the producers are getting a good response for immediate delivery. Meanwhile, the prices for key raw material like Manganese Ore are also stable in the global market. Prices in Durgapur opened with a slight correction in this week. Major producers are catering to the ongoing SAIL orders, which created a deficit of Silico Manganese in the domestic market. A Raipur based trader shared that supply is still lower than the demand in the market.
Producers in Raipur are quoting INR 68,000/MT Ex-Raipur. Although the acceptance of this price is still lagging, only buyers with an immediate need for material are booking at such levels. Meanwhile, in Durgapur, the prices moved down marginally to around INR 67,500-68,000/MT. The producers feel that the prices will be stable in the short term.
In the export market, Silico Manganese price decreased W-o-W to USD 940/MT for 60-14 grade and USD 1000/MT for 65-16 FOB India amid a weak international market. SteelMint assessed that Silico Manganese prices in the international market are weaker than the present domestic levels.
On the future outlook, the prices may remain stable for now until the supply situation matches the current demand of Silico Manganese in the market.
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