Silico manganese prices were assessed unchanged this week. Although, demand from the export market has increased, sellers have kept prices at the same level because of lull trade activities in the last few months.
Domestic Silico manganese market remained stagnant this week, with most producers keeping prices unchanged. SteelMint assessed prices for 60-14 grade at around INR 45,000/MT (ex-Ramgarh), INR 46,000/MT (ex-Raipur) and INR 47,000/MT (ex-Durgapur). In Raipur, there is a supply crunch and no material is available till 10 May’15.
A producer source from Raipur remarked, “Generally speaking most Silico manganese producers are resisting any discount on offers and most steel mills would be willing to purchase at the current price, as demand is picking up and the market is unlikely to fall below this mark.”
Export Market holds as Sellers firm on Offers
Export offers were also unmoved this week as prices were finding support and international buyers were inquiring for the Indian-origin material. Export offers remained unchanged from last week. 60-14 grade is being offered at around USD 720-730/MT, FoB East Coast India and 65-15 grade at around USD 810-820/MT, FoB East Coast India.
A Kolkata based producer stated, “With better demand, a steady rise in prices can be expected in next month.”
Market sources alluded that this month prices should remain at this level. It is expected that by next month prices and demand should get better.
Exchange Rate : USD 1 = INR 63.35
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