Tata Steel, one of the major steel producers in India, floated a tender for purchase of 8,000 MT High Carbon Silico manganese for its Jamshedpur plant. The material is to be supplied in two equal installments, starting from the month of August and finishing by September. The minimum quantity to be supplied is 700 MT per month, for two months each.
The online reverse auction tender process was carried out on the 24th of July, in which about 9 companies participated in the auction. The L-1 (Lowest) price was established at INR 50,500/MT FOR Tata Steel (Jamshedpur).
L-1 price is inclusive of Packing, CST/VAT, Freight and 30 days credit.
Domestic Silico Manganese Prices
The silico manganese market remained weak on low end-user demand. Silico manganese retail prices for grade 60/14 are around INR 46,000/MT (Ex-Raipur) and INR 47,000/MT (Ex-Durgapur).
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