Market for Silco Manganese is sluggish due to weak demand
from both domestic & overseas buyers.
Prices in the domestic market remain unchanged varying in the range of Rs
58,000-61,000/MT ex works for
silico manganese 60/15.
In the export market, quotations for silico manganese 60/14
ranged between $1090-1100/MT FOB India. But demand was much weaker than
expected.
According to a top official, “The cost of production has
already gone up in the domestic market due to high power cost & rise in Manganese ore prices. But high
prices have lowered the enquiries in the market”
Speaking about the International market, he further adds, “Rupee
has hit an all time low of 54.85 per
dollar. And worries over the Euro zone debt crisis has suppressed the
market sentiments. Buyers are not willing to make purchases in such a volatile
market”.
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