Silico Manganese prices fell marginally on lacklustre end-user demand.
The mainstream domestic price of silico manganese 60/14 is around INR 48,000/MT (Ex-Durgapur) and INR 49,000/MT (Ex-Raipur).
Silico Manganese prices softened in the domestic market on shaky steel fundamentals and sapping demand. Looking at the decline in sales volumes Indian silico manganese producers have dropped their offer levels. SteelMint assessed that demand from the Indian steel industry is bad and that the market is on a seasonal downtrend.
Market participants said there were expectations of further cuts in offer prices and this was holding back buyers.
Silico Manganese Export Offers Increase
Indian producers have increased export offers in the market on the back of rising inquires.
Silico Manganese 60-14 is being offered at USD 730 /MT FOB East-coast India, and 65-16 is being offered at USD 780/MT FOB East-coast India.
There is a rise in demand from South-East Asian and Far-East Asian countries and so Indian producers have raised their offer levels. “There is still optimism in the export market, and in the coming days we are expecting export prices to be well supported,” stated a producer from Kolkata.
With good demand in the export market even higher prices could be achievable soon.
Leave a Reply