Indian Silico Manganese Prices have made a major fall since last week after the MOIL prices were released. However, the prices in this week remained stable, as the producers believe that the prices are at bottom levels. A few major producers of Silico Manganese are outsourcing to fulfill their existing orders as producing Silico Manganese for them is not viable at such lower rates. Meanwhile, the producers in Raipur remained firm on their prices and are not willing to sell at any prices below INR 56,000/MT. However, there is always a chance of negotiation as there are limited purchases in the market. The export market also remains weak which is causing the prices to fall continuously. Prices in the export market fell by approximately USD 30/MT W-o-W. Supply-Demand dynamics is ruling the market in the domestic and the global scenario as well. However, cheaper production cost in Malaysia and Ukraine is making them highly competitive in the market.
In Raipur, the prices are stable at INR 56,000/MT ex-Raipur. However, a few deals were heard to be done at marginally lower than these levels in Raipur. Meanwhile, Prices for Durgapur remained stable at INR 55,000/MT for both regular and premium sized material. In the export market, prices fell in line with low demand to USD 760-770/MT for 60-14 grade and USD 860-870/MT for 65-16 grade.
On the future outlook, the prices may remain stable for now, but the Manganese Ore Index prices can be a deciding factor for the Durgapur region as the producers depend on the imported Manganese Ore. Meanwhile, the producers shared that since the Manganese Ore prices have bottomed out, therefore the alloy prices may stabilize soon
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