Silico Manganese prices fell for the fourth straight week with demand dented as buyers were retreating due to diminishing steel margins.
Silico Manganese 60-14 is currently being offered at around INR 58,000 /MT (Ex-Raipur) and INR 59,000 /MT (Ex-Durgapur).
SteelMint learned from sources that trading activity was scant as buyers steered clear of any transaction – awaiting clearer market direction.
A Durgapur-based trader remarked, “Demand is very weak in the domestic market,” suggesting greater dependence on overseas sales.
In the export market, Indian producers have maintained offer levels although demand from foreign buyers has been very soft. Silico Manganese 60-14 is being offered at USD 910/MT FOB East-coast India, and Silico Manganese 65-16 is being offered at USD 1050/MT FOB East-coast India.
On the future trend, most market participants believe there is a possibility of a further price-cut because of weak demand, and as prices of Manganese Ore have also been coming down.
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