Indian Silico Manganese Prices continues to fall amid low demand. Producers believe that due to lack of domestic demand, they are under selling pressure and have to lower their offer levels to entice buyers. However, Inquiries from the Export market has started picking up. Also due to a sluggish Steel market most industry participants believe that the market conditions are likely to remain unchanged until elections get over in India as the producers are facing major issue over labour availability. However, fresh round of demand may start post elections.
Silico Manganese prices for 60-14 grade in Raipur are at INR 65,500/MT Ex-Raipur and at Ex-Durgapur deals are concluded in a range of INR67,000-67,500/MT. Prices were down by USD10/MT W-o-W in the export market owing to lacklustre demand. Producers are offering 60-14 grade at USD 950/MT and grade 65-16 is being offered at USD 1040/MT in export market.
On the future outlook, Silico Manganese producers believe that the prices may not increase in the near future. Any improvement in the market can only be predicted after the election process is over with.
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