Indian Silico Manganese producers have kept their prices relatively unchanged as they witness limited trading activities.
“The market remains under pressure with limited buying appetite for Silico Manganese as buyers are still looking for clearer direction,” said a producer source reflecting his concern on deteriorating demand for the commodity.
A recent edge-up in imported Manganese ore offers amid reduced buying from China on account of limited Ferro Alloy production in the country has also failed to lend support to the Silico Manganese offers.
Steelmint assessed Silico Manganese prices in the range of INR 62,000-63,000/MT (Ex-Durgapur) and (Ex-Raipur).
Demand from overseas remain flat as well with export offers being unchanged at USD 940/MT FOB India for 60-14 grade and USD 1050/MT FOB India for 65-16 grade.
“The production cut of the alloy in China has restricted the commodity’s supply and even moderate demand would propel the prices upwards, and the changes may even be visible in the Indian market,” said a producer source expressing his optimism regarding the near-term outlook for the commodity.
On the future outlook, Silico Manganese prices are expected to maintain stability but may rise in near future in line with Chinese prices.
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