The Silico Manganese market continued to be well supplied, as demand remained steady. Sellers said that they had seen a rise in inquiries for the material.

In the Indian market, Silico Manganese prices remain unchanged on stable demand from end-users. Current prices of Silico Manganese (grade 60-14) are INR 54,500/MT (Ex-Raipur), INR 55,500/MT (Ex-Vizag) and INR 55,000/MT (Ex-Durgapur). According to sources, Prakash Industries is currently offering Silico Manganese at INR 52,700/MT (Ex-Champa). TATA’s branded Silico Manganese 50-12 Silicomag is being offered at INR 44,000/MT FOR West Bengal.

[su_quote]“There’s not much buying in the market but the material is available which keep the prices unchanged, stated a Raipur based producer.[/su_quote]

Export Market

In the export market, prices for Silico Manganese rise as demand improves from European nations, Latin American and Middle-East countries. Silico Manganese 60-14 is being offered at USD 880/MT FoB East Coast India and 65-15 is being offered around USD 985-990/MT FoB East Coast India. SteelMint confirmed from market sources that deals have not yet been confirmed at these rates, but Indian producers have raised export offers, hoping that it will be expected soon.

[su_quote]A Trader from India remarked, “There is an uptick in inquires fromthe export market but there is a gap between the price expectations of buyer & seller.”[/su_quote]

On the future outlook, SteelMint assessed that demand was not strong enough to support any price increase. Sources in the market continue to suggest that there was minimal activity in the market and believe that the market condition is unlikely to change in the near future.

Exchange Rate: USD 1= INR 61.91