Indian Silico Manganese witnessed a marginal rise in its price amid low but constant demand.
Demand for Indian Silico Manganese along with rest of the steel industry has been impaired in the rainy season. Moreover, production of the same has also been curtailed by the producers in view of the declining buying interest.
Despite low demand, the prices of Indian Silico Manganese edged up on account of limited material availability in the domestic market. SteelMint assessed 60-14 grade Silico Manganese at INR 64,000/MT (Ex-Durgapur) and INR 63,500/MT (Ex-Raipur).
In line with domestic market, demand from overseas remained moderate as well. Export offers for Silico Manganese grade 60-14 remained firm at USD 1000/MT, while, prices for 65-16 grade has been raised at USD 1120/MT which can be attributed to the limited production of aforementioned grade in India at present.
Keeping the current situation in mind, Indian Silico Manganese market trend is expected to remain unchanged during monsoon with chances on any uptick in price remains unlikely.
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