Indian producers of Silico Manganese have been forced to cut their offers to conclude desired sales.
Silico Manganese 60-14 is being offered at around INR 60,000/MT (Ex-Durgapur) and INR 59,000/MT (Ex-Raipur).
SteelMint assessed that Indian Silico Manganese prices are depressed by the persistent problem of output overcapacity in India, and demand has failed to match the supply.
SteelMint learned from sources that trading activity was scant as buyers steered clear of any transaction – awaiting clearer market direction. It is clearly visible that oversupply of Silico Manganese is inversely affecting its price.
In the export market, Indian producers have lowered offer levels as demand from foreign buyers has been very soft. Silico Manganese 60-14 is being offered at USD 910 /MT FOB East-coast India, and 65-16 is being offered at USD 1050/MT FOB East-coast India.
Leave a Reply