India: Silico
Manganese prices fall further in Indian market. Offers for SiMn 60-14 lies
between Rs 52000-53000/MT (basic price) which is down from the previous quotes
of around Rs 53000-54000/MT. According to
manufacturers, “We are incurring loss as the current prices as they are even below the
breakeven prices. Any further cut in prices will not be feasible for us.”
Demand in the export
market has improved slightly but it is not as per the expectations of the
industry players. “Enquiries are seen in the market but it is not so good.
Steel units in Europe are operating at lower capacities. So, the buying
interest is not so high”, said a top official from a major manufacturing
company in Durgapur.
Europe: European
market participants noted a slight improvement in the silico manganese market
but volumes were not so high. The mainstream price for European silico manganese
65/17 ranged between EUR 930-980/MT DDP i.e. unchanged from the last week. “I
believe that prices should rise in the near term, although not significantly but
a marginal rise of EUR10-20/MT should be seen”, said European trader.
China: Silico manganese prices for 65/17 fell this week due to the slow
demand from steel mills. Some Producers have also shut down their furnaces
due to the low concluded prices and deficits. A Hunan-based producer said “Output has declined
to less than 50% of the capacity and there are few spot material in the inventory.
We expect the market for silico manganese to remain weak in the coming weeks as
well”.
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