- Balanced market conditions keep prices stable
- Cautious buying keeps prices within narrow range
Indian medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) prices remained broadly stable at INR 88,300/t ($925/t) ex-works Durgapur on 13 August, with a marginal INR 200/t ($2/t) w-o-w increase. Suppliers’ offers were heard at INR 87,400-88,700/t ($916-929/t), while 830 t of deals were concluded at INR 88,500-90,000/t ($927-943/t).
Factors affecting prices
Steady market activity lends support to prices: Prices remained mostly stable as overall market activity stayed steady, with suppliers maintaining offers amid a balanced supply-demand situation. Buyers continued to make purchases based on immediate requirements, preventing significant downward pressure. However, cautious procurement and limited urgency for larger volumes kept the upside moderate.
Firm offers reflect improving producer sentiment: Market participants said producers were largely unwilling to reduce offers further. A supplier told BigMint that “enquiries have improved slightly, but buyers are still negotiating aggressively and large-volume bookings remain limited.” Meanwhile, buyers continued to assess near-term steel demand before committing to larger quantities, keeping overall market activity measured.
Outlook
Prices are expected to remain range-bound with a firm undertone, supported by restrained producer offers and steady restocking demand, while cautious procurement and limited downstream visibility could cap further upside in the near term.
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