Silico Manganese producers continued to offer at stronger levels as they were confident of finding buyers.
Silico Manganese 60-14 is being offered at around INR 49,000/MT (Ex-Durgapur) and INR 50,000/MT (Ex-Raipur).
On account of increased overseas demand coupled with low availability of Silico Manganese in India, and soaring imported Maganese Ore prices Indian Silico Manganese prices have continued their march upwards. The latest surge in prices is a result of producers in China having suspended production and procuring material from India. Also, imported manganese ore prices have risen sharply in the market for which cost of production has increased. All these factors have rendered significant support in the domestic market and have prompted producers to raise silico manganese prices extensively.
“I’m bullish about the market as there are many reasons pointing towards a rise in prices,” said a producer source from Raipur.
Visibly stronger buying interest, combined with higher imported manganese ore prices, helped motivate sellers to hike Silico Manganese offers.
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