Silico Manganese prices remain firm at INR 63,000/MT (Ex-Raipur) and INR 63,500/MT (Ex-Durgapur). Albeit low demand the prices remains unchanged on account of high cost of production.
Domestic demand for Silico Manganese continues to be low, and market participants highlighted that prices have been firm in the market on account of rising production costs. Billet, which is generally a good indicator of the market – prices have increased by upto INR 200-1500 /MT in India. In Raipur, Silico Manganese producers have kept offers unchanged, and Silico Manganese 60-14 is being offered at INR 63,000 MT (Ex-Raipur). According to sources, Prakash Industries is offering Silico Manganese at INR 60,000 /MT (Ex-Champa, Chhattisgarh), unchanged from previous week’s prices. Silico Manganese 60-14 is currently being offered around INR 63,500/MT (Ex-Durgapur).
Silico Manganese prices in India remain unchanged as the market awaits MOIL’s announcement of prices for the next quarter (Q4 FY’17). Most participants believe that MOIL will most likely further increase Manganese Ore prices and Indian Manganese Alloy producers will have to adjust their offer prices accordingly.
Export offers for Silico Manganese could not be confirmed as the overseas buyers are still on holidays and are expected to return soon to the market.
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