Indian silico manganese prices remain stable in the domestic market amidst better demand. The producers in Durgapur have concluded good number of deals at INR 60,000/t. One of the major producers of silico manganese based in Durgapur, shared that he was able to conclude around 600t deals today in varying lots, however, he also said that the future pricing is difficult to assess. Another silico manganese manufacturer shared that the export market is dull and few deals are taking place at even lower prices than the domestic levels, and it may take a toll on the domestic prices.
The domestic market in Raipur seemed to be silent as compared to the Durgapur market. The prices were high due to supply shortage of 60-14 in Raipur, but now the issue is getting resolved and the prices came down. However, the buyers are now resisting to buy further material as they feel that the prices might come down further. Current assessments are at INR 61,500/t Ex-Raipur.
An exporter of silico manganese shared that with the continuous fall in the manganese ore prices, the alloy prices are getting into intense pressure and they are forced to reduce prices. Meanwhile, the demand remains subdued in the global market. Few bulk orders of silico manganese were concluded at $800/t since last Thursday. However, few deals were also heard to be concluded at INR 59,000/t for the export market through traders. Meanwhile, the prices of the grade 65-16 were at around $870-900/t.
Outlook:
The market is steady for now, and the producers are firm at their prices. However, with continuous dull demand and the incessant fall in manganese ore prices, silico manganese prices could come under growing pressure.
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