Silico Manganese prices have risen sharply, as bullish expectations have re-emerged for steel consumption in September-October
The Silico Manganese market strengthened and spot prices in India rose sharply, on healthy interest from end-users and traders in India. Silico Manganese 60-14 is currently being traded at around INR 52,000 /MT (Ex-Raipur) and at INR 51,000 /MT (Ex-Durgapur), with prices gaining acceptance and deals being concluded on clearer market direction. An increase in construction activities, aided by the culmination of the monsoon season in India, has resulted in a stronger sentiment towards the Semi-Finish and Finish Steel market (with prices rising by about INR 1000 /MT from last month across all major mandis).
In the export market, Indian producers have kept offer levels unchanged in line with prices in the domestic market, and expectations of better demand as European buyers returned to the market. Silico Manganese 60-14 is being offered at USD 760 /MT FOB East-coast India, and Silico Manganese 65-16 is being offered at USD 820 /MT FOB East-coast India.
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