Durgapur based Silico Manganese producers decided to make a significant rise in their offers on limited supply coupled with healthy overseas demand.
“Power supply restriction in Durgapur has substantially affected our production. There are power cuts of more than 8 hours a day,” said a producer source expressing his concerns over the supply shortage of the commodity. Hence, he added, considering a low but constant demand with limited supply, has pushed the prices upwards.
“Lately we have concluded a deal with SAIL at more than INR 65,000/MT,” said a source reflecting an optimist view of the commodity.
Meanwhile, the prices in Raipur remains unchanged at INR 63,500/MT with moderate demand for the Alloy. Offers of Durgapur based commodity rose by INR 1,250/MT to reach INR 64,500/MT.
Moreover, also recent overseas demand with immediate requirement has lent support to Silico Manganese prices in Durgapur, as producers their rely heavily on exports.
SteelMint assessed Silico Manganese export offers at USD 1,000/MT FOB India for 60-14 grade and USD 1,150/MT FOB India for 65-15 grade.
On the future outlook, Silico Manganese prices are expected to maintain stability on demand-supply balance.
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