Demand from end-users shows no significant improvement, but Silico Manganese prices keep on rising due to the surge in Manganese Ore prices.
Indian producers of Silico Manganese have raised their offer price in line with increased price of Manganese Ore – both imported and domestic. In Raipur, Silico Manganese 60-14 is being offered at INR 56,000 MT (Ex-Raipur) and INR 57,000 /MT (Ex-Durgapur). According to sources, Prakash Industries is offering Silico Manganese at INR 53,000 /MT (Ex-Champa, Chhattisgarh).
As was expected that Silico Manganese prices could rise further once the Ore procured at cheaper rates are used up totally, offer prices for Silico Manganese are being adjusted higher to counter the rising cost of production.
Silico Manganese Export Prices Increase, Yet to Find Acceptance
Slightly firmer trades in the silico manganese export market showed some buying interest had returned, though sources doubted the longevity of any real uptick as offers from other nations are more competitively priced.
Silico Manganese 60-14 is being offered at USD 870 /MT FOB East-coast India, and 65-16 is being offered at USD 970/MT FOB East-coast India.
SteelMint assessed that having to deal with increased manganese ore prices, the silico manganese producers have decided to increase offer levels.
Source: SteelMint Research
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