Silico Manganese offers remain firm and so is the demand despite the ongoing holidays.
“A constant demand remains in play as commodities are witnessing hand-to-mouth existence,” said a producer source discussing the robust Silico Manganese market in India. He further added that they are low on inventory but there is an equilibrium in demand-supply.
Another source revealed that higher Manganese Ore offers are supporting the Silico Manganese prices.
SteelMint assessed Silico Manganese offers at INR 71,500/MT (Ex-Durgapur) and INR 71,000/MT (Ex-Raipur).
Amid Christmas holidays, demand from Iran and Japan are witnessed to be constant while European buyers market is out of the market.
“A few buyers have kept their purchase on hold due to holidays and some are still uncertain on the backdrop of rising Silico Manganese prices,” said a producer source.
Export offers are assessed at USD 1100/MT FOB India for 60-14 grade and USD 1200/MT FOB India for 65-15 grade. However, a source mentioned that very few trades took place at such offers of 65-15 grade.
In the near future, Silico Manganese prices are expected to maintain stability during the festive period.
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