Following last week’s substantial rise in prices, the Indian Silico Manganese market has again moved up slightly as production costs increase on rapidly rising cost of Manganese Ore and Met Coke.
Silico Manganese 60-14 is being offered at INR 63,000 MT (Ex-Raipur) and INR 62,000 /MT (Ex-Durgapur). According to sources, Prakash Industries is offering Silico Manganese at INR 62,000 /MT (Ex-Champa, Chhattisgarh). The higher prices is gaining acceptance and deals are being concluded on clearer market direction.
In the export market, Indian producers have kept offer levels unchanged in line with steady demand from the overseas market. Silico Manganese 60-14 is being offered at USD 940-950 /MT FOB East-coast India, and Silico Manganese 65-16 is being offered at USD 1020 /MT FOB East-coast India.
SteelMint assessed that with Met Coke prices also drifting upwards, combined with rising Ore prices, it is inevitable there could be a further push on Silico Manganese prices.
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