Indian Silico Manganese prices remain firm. Manufacturers
are not willing to cut offers further as prices have bottomed out.
* Raipur: According to a top official from
a major manufacturing company, “Market is stable at present. We have not
cut offer prices much as production cost stays high. Our offers remain at Rs
54,000/MT for 60/15”.
* Vizag: “We have kept our offers
unchanged at Rs 54,000/MT for 60/14 and we do not see any further correction in
prices. Power cost is too high and selling below the current levels is not
feasible. People selling below these levels are doing so to reduce their
accumulated inventories”, said a manufacturer in Vizag.
* Durgapur: “For
Silico Manganese, Rs 54,000/MT is a idea price as it almost matches the cost of
production. So, selling below these prices is not at all feasible. So, I do not see prices falling any further
from these levels”, said a top official from a major manufacturing company.
“The auction price of the recent tender placed by RINL for Silico Manganese is
heard to be somewhere around Rs 53,000/MT but it is subject to confirmation. It
is also believed that it has fetched lesser bids and can be retendered in the coming
days”, he added further.
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