Indian manufacturers have reduced
the production of silico manganese with grade 60/14 due to sluggish demand. Market
players anticipate that market may not show any major turnaround by the end of this
year.
An Indian producer with the capacity
of 2,000tpm of silico manganese 60/14 reported that the price for the material
stayed at INR48,000/MT (USD936/MT) ex works this week, i.e. same as the price
seen last week. He usually sells the material both in domestic and
international market, but soft demand from exports forced him to focus more on the
local or the domestic market.
“At this time of the year, most
of the end-users will prefer to hold a reasonable amount of inventory for the future
production. So, there may not be much variation in prices during this month. We
will keep the prices firm during this month but suppliers who are eager to deplete
their inventory might reduce prices before the year-end,” he added.
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