Indian silico manganese prices went up by around INR 1,500/t in the domestic market on improved demand and supply shortage. The transactional price of silico manganese is in the range of INR 62,500-63,000/t ex-plant, meanwhile, export offers are also rising.
The current assessments are as follows:
Ex-Durgapur (60-14): INR 62,500-63,000/t
Ex-Raipur (60-14): INR 62,500/t
Export prices (fob India):
60-14 grade: $840/t and
65-16 grade: $910/t.
Indian silico manganese prices ascend this week, on a confluence of factors namely:
- Shortage of silico manganese 60-14 grade:
Few of the major producers of silico manganese shifted partially to pig Iron production due to better profit margins. Moreover, many producers of 60-14 grade shifted to 65-16 grade for exports, which created scarcity in 60-14 in the domestic market. - Shortage of manganese ore:
Supply from MOIL is short, meanwhile, ores from South Africa are also in short-supply. This, it might have a serious impact on the availability of ores. Meanwhile, the prices of seaborne ore prices are also rising. - Steel fetches higher prices:
Steel prices are increasing owing to better demand in the domestic market, which is drawing up the prices of all the sub-commodities required for steelmaking.
Outlook:
Indian silico manganese prices are expected to increase further in the coming weeks amidst better demand and low production levels.
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