Silico Manganese prices remained steady this week as sellers kept offers unchanged despite some weakness in demand from end-users.

The Silico Manganese market has muted down as demand in the domestic market has slowed down. Current prices of Silico Manganese (grade 60-14) are INR 54,000/MT (Ex-Raipur), INR 55,000/MT (Ex-Vizag) and INR 54,500/MT (Ex-Durgapur). According to sources, Prakash Industries is currently offering Silico Manganese at INR 53,000/MT (Ex-Champa). TATA’s branded Silico Manganese 50-12 Silicomag is being offered at INR 43,500/MT for West Bengal.

A Raipur based trader remarked, “Outlook for Silico Manganese remains lackluster and so traders have kept their offers unchanged looking at the market condition.”

Export Market

Demand for Silico Manganese in the export market had simmered down and this is taking a toll on buying appetite. Indian traders kept their offers unchanged in the market. Silico Manganese 60-14 is being offered at USD 870/MT FoB East Coast India and 65-15 is being offered at USD 970 /MT FoB East Coast India.

A trader from India, looking at export market condition stated, “It’s completely quiet and there are no enquires. Indian traders & manufactures would wait to see the direction of prices when more participants returned.”

On the future outlook market participants predicted that there will be not much changes in prices and demand will remain thin in the coming months.

Exchange Rate: USD 1= INR 63.23