The market for Silico Manganese remains quiet and is expected to remain slow for some time to come.
Silico Manganese prices have found support at current levels, showing very little indication of change, with a lack of buying interest from steel mills. Silico Manganese 60-14 is being offered at around INR 43,500 /MT (Ex-Raipur) and INR 44,000 /MT (Ex-Durgapur). According to sources, Prakash Industries is offering Silico Manganese at Rs 42,500 /MT (Ex-Champa, Chhattisgarh).
In the export market, Indian producers have maintained offer levels as demand from foreign buyers has been very soft. Silico Manganese 60-14 is being offered at USD 650 /MT FOB East-coast India, and Silico Manganese 65-16 is being offered at USD 695 /MT FOB East-coast India.
Given the current situation, the Ferro Alloy market is unlikely to rebound in the short-term amid weak demand from steel mills during the monsoons.
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