According to the custom data, India witnessed a decrease of 14% in its Silico Manganese exports in Apr’17 at 0.06 MnT against 0.07 MnT in Mar’17.
However, on yearly basis, Indian Silico Manganese export has increased substantially by 50% in Apr’17 against 0.04 MnT in Apr’16.
With improvement in the Indian Steel Market, during the initial weeks of April, producers preferred to sell in the domestic market.
Taiwan stands to be the largest importer of Indian Silico Manganese at 8,096 MT in Apr’17, registering a massive rise of 157% M-o-M. Japan and UAE were the second and third largest importer of Silico Manganese from India.
Indian Silico Manganese Scenario
Post GST Indian Silico Manganese market has been very quiet and demand for same is low but constant. Moreover, participants are bearish as they anticipate the prices to drift down further.
Leave a Reply