Considering strong steel fundamentals, offers for Manganese alloys remained firm amid improving demand.
Silico Manganese prices remained relatively firm as supported by increasing trading activity in the domestic market. “There has been an upward momentum in Manganese alloys market with constant inquiries,” said a producer source indicating a bullish sentiment.
SteelMint assessed Silico Manganese at INR 66,500/MT (Ex-Raipur) and INR 68,000/MT (Ex-Durgapur).
Ferro Manganese prices were supported by healthy trading as well with its offers being assessed at INR 72,500/MT (Ex-Raipur) and INR 73,000/MT (Ex-Durgapur).
With Europe returning to the market, joining Middle-East, Far East, and other Asian countries, the demand for Manganese alloys has enhanced further.
High demand for 65-15 grade Silico Manganese has pulled its prices at USD 1180/MT FOB India while 60-14 grade remained at USD 1050/MT owing to moderate demand.
A similarity has been noted in Ferro Manganese offers as well with its prices being stable at USD 1135/MT FOB India for 70% grade and USD 1200/MT for 75% grade.
Market participants exhibited optimism as they are expecting the prices to remain stable with a chance to correct upwards.
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