Indian Silico Manganese Exports increased by 20.5% in March

Indian Silico Manganese exports in Feb’15 were 61,729 MT which increased in March, 15 by 20.5%, summing up to 74, 360 MT.

In February’15 total Silico Manganese export to Japan was 9,770 MT which increased to 12,023 MT in March’15. Similarly in Taiwan the total quantity exported in March’15 is 7,200 MT, where as in February the total exports were 4,150 MT.

In Turkey the total export in February’15 was 4,374 MT which increased in March’15 to 5,282 MT. The total quantity exported to Iran in February’15 was 3,681 MT which marginally decreased to 3,304 MT in March’15.

There was a sharp rise in quantity exported to Malaysia in March’15. The total quantity exported in February’15 was 965 MT where as in March’15 it was 2,463 MT. Likewise, in Brazil 1,110 MT was exported in February’15 which increased to 2,044 MT in March’15.

On the other hand, in Saudi Arabia there was decrease in exports. In February’15 a total of 1,255 MT was exported where as in March’15 it was 394 MT.

There was an increase in exports in March’15 to Europe. In February’15 the total exports was 19,667 MT which increased to 23,677 MT in March’15.

Demand picks up in the Export Market

Demand in the export market rises for Indian-origin Silico Manganese although offers were raised last week on the back of reduction and export benefit announced under the New Foreign Trade Policy. SteelMint assessed the offers for 60-14 grade is around USD 725/MT, FoB East Coast India and 65-15 grade at USD 810-820/MT, FoB East Coast India. SteelMint assessed that after a long time prices have found support, as there has been a rise in inquiries from the Middle East and South-East Asian countries.

Silico Manganese domestic offers for grade 60/14 range between INR 45,500- 47,000/MT (Ex-Works).