Sell-side participants were observed to be bullish as demand for Silico Manganese rebounds from overseas market.
“An increasing inquiry from the Far-East and other Asian countries has lent support to Silicon Manganese offers,” said a producer justifying the firmness in the Silico Manganese offers.
A slight increase in imported Manganese ore price has also been reported by some of the market participants.
SteelMint assessed the export offers at USD 980/MT FOB India for 60-14 grade and USD 1100/MT FOB India for 65-15 grade.
In the domestic market also demand is healthy. Offers in Indian market is more-or-less similar to INR 64,000/MT for both (Ex-Raipur) and (Ex-Durgapur).
“We are focusing more on 65-16 grade due to the rising overseas demand,” mentioned a producer explaining the supply crunch of 60-14 grade commodity in the market.
On the future outlook, the producers hold an optimistic view as they expect the prices to remain firm in line with healthy overseas demand.
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