Weak global market and lower domestic demand dragged Silico
Manganese prices in the domestic market. Following is the area wise highlight
of various markets:
* Raipur: (SiMn) 60-15 in Raipur is being
quoted at Rs 57,000/MT i.e. same as the quotes seen last week.
“Market sentiments are weak. Export demand is also very low as European
buyers are on a holiday. Weaker sentiments have made market players to wait and
watch”, said a top official from a major manufacturing company.
* Durgapur: SiMn 60-15 in Durapur also trades lower
at Rs 57,000/MT. According to market players, “There are hardly any buyers
in the both domestic & international market. Market may see some
improvement after European buyers are back from holidays”.
* Odisha: SiMn 60-15 in Odisha trades at Rs 56,000/MT
i.e. down by Rs 1000/MT from the previous quotes. “We are a bit bullish for July as buying interest should improve by then and more enquiries are expected to be seen as European buyers would be back by then”, said a top official from a major manufacturing company.
The production cost is too
high at present owing to hike in power tariffs and operating at levels below the current offers will not
be sustainable. Production levels in Andhra Pradesh have also gone down due to
the power cut issues. So, if demand picks up in July then market should improve”, he added further
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