Indian Silico Manganese Prices are in an upswing in line with the Manganese Ore shortage and reduced Silico Manganese production. The mainstream producers are out of stock and are only catering to the withstanding orders. There is a supply crisis in the market and few of the producers are booked for next month too. The Manganese Ore prices, on the other hand, have been firm, and the availability of the ore is an issue. A Raipur based producer shared that the prices can go further up in a few weeks, as most of the producers are low on inventory and the demand has improved in recent weeks.
Prices in the third week of December went up by INR1000/MT in Durgapur, opening the week at INR 60,500/MT Ex-Durgapur. Meanwhile, in Raipur, it is at around INR 59,000/MT. Although few producers in Raipur have started quoting at INR 60,000/MT, the acceptance in the market is still lagging. In the export market, the price remained stable W-o-W at USD 800/MT for 60-14 grade and USD 900/MT for 65-16. Even though the producers are raising their offers in the export market, the buyers are reluctant to conclude any deals at higher levels.
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The prices for Silico Manganese is also increasing in line with the increased raw materials prices. The manganese ore and coke prices as raw material inputs have all been attuned to a positive trend, and the port transportation costs also increased due to the winter rain, snowfall and haze weather conditions. As a result, the manufacturing cost for Silico Manganese has hit higher and the prices are firm. Compared with last week’s price level, the price of high-grade Australia lump, semi-carbonate manganese ore of RSA origin and high-Fe manganese ore all increased by RMB 0.5 /dmtu. The buoyant sentiments continue to spread in the market on the increased transactions of manganese ore. More manganese ores are being released thanks to the price upswing. The gradual release of demand and the non-availability of low-cost resources have heightened Manganese ore prices. The high frequency of transactions will further push up the price in return.
On the future outlook, Silico Manganese prices may rise marginally in line with the low inventory of Silico Manganese and supply shortage of raw material.
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