Indian Silico Manganese producers have had to constantly raise their offers in-line with rising Manganese ore prices, both domestic and imported.
Silico Manganese 60-14 is being offered at around INR 55,000/MT (Ex-Durgapur) and INR 55,000-58,000/MT (Ex-Raipur). The market was largely quiet, however, and a degree of uncertainty remained. Export offers would also most likely go up in-line with rising domestic prices. However, no firm export offers were heard today after MOIL increased prices of various grades of Manganese ore by around 20-25% for Q3 (Oct-Dec).
Market participants expect that Silico Manganes prices will remain strong on account of increased raw material cost.
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