Indian manufacturers stick to raised offer prices for Silico Manganese. Prices reported by Indian producers of Silico Manganese are in the range of Rs. 54,000-55,000 / MT(Ex-Works).
Current offers for Silico Manganese 60/15 in Hyderabad stand at Rs. 57000-58000 /MT. In Raipur and Raigarh Silico Manganese 60/15 is trading at Rs. 54,500-55,000 /MT. MSP a manganese alloy producer from the region is reported to be selling at Rs. 55,000 /MT for Grade 60/15.
In Durgapur offers for Silico Manganese 60/15 vary in the range of Rs. 54,000 – 55,000 /MT. A distributor reported to SteelMint that TATA’s branded Silico Manganese Silicomag is being offered at Rs. 55,000 /MT (an increase of Rs.1,500 from last week’s price).
Prices have increased due to factors like , increase in freight charges (up by 5.7%), hike in power tariff in Odisha and Andhra Pradesh, and increase of Manganese Ore prices by MOIL (up 10%). However, it might prove difficult for producers to pass on this price hike to its customers, as globally Ferro Alloys prices are on a downward slide.
A miner source indicated to SteelMint that there is limited supply of Manganese Ore in the market, due to the restrictions in Odisha on selling of Manganese Ore in the open market. Ore from Odisha is used to blend with high-grade imported Manganese Ore, or the Ore procured from MOIL – which have lower Fe content, but are higher priced.
Note: All Prices are Basic, Ex-Works
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