Indian Silico manganese (SiMn) manufacturers have kept their offers firm despite sharp fall in Indian domestic steel prices. Rising met coke and manganese ore prices does not leave any room for correction.
In Raipur, 60/14 grade SiMn is being offered at INR 55,000/MT (Ex-Works) however participants report trade levels at around INR 54,000/MT. Offers for Champa based Prakash Industries were heard at INR 52,000/MT (Ex-Mill) for 59/12 grade SiMn.
In Durgapur, prices for 60/14 grade SiMn is assessed at INR 55,000-55,500/MT (Ex-works). Trade levels being reported at around INR 55,000/MT.
Rising Imported Manganese Ore Offers
Imported manganese ore offers continue to rise amid strong demand from China and falling supplies from South African Miners. Market participants report an increase of 20-25% in last few weeks. South African 37-38% Mn carbonated ore was heard concluded at USD 7/dmtu CIF China and there are no offers for India at the moment.
Indian manganese ore imports fall by 23% in September 2016 (M-o-M) due to higher prices. India imports about 2.2 MnT manganese ore annually, which is 50% of total requirement.
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