Silico manganese prices inched lower as supply of the material increased and demand declined.
Supply was plentiful as many plants that were earlier closed have started production again, so sellers were under pressure to offer at competitive prices. Prices are under pressure as demand from steel sector is moderate. “I think there is little room for a price drop in the short run, but it is all dependant on the steel market fundamentals,” stated a producer from Raipur.
SteelMint assessed the price for silico manganese 60/14 at INR 54,000/MT (Ex-Durgapur) and INR 55,000/MT (Ex-Raipur). Prakash Industries is offering at INR 53,000/MT (Ex-Champa).
Silico Manganese Export Offers Drifts Lower, Spot Trade Very Low
Silico manganese prices drifted lower as buying interest remained very thin.
SteelMint assessed that grade 60-14 is being offered at around USD 820/MT FOB East-coast India, and grade 65-16 is being offered at around USD 880/MT FOB East-coast India. Indian offers are still higher than prices prevailing in the international markets.
A producer from Kolkata remarked, “It’s very quiet. We’ve received just a couple of inquiries. We’re in no hurry to sell, so we haven’t offered.”
SteelMint assessed that the general expectation of the market is that prices should remain close to the current level in this month.
Leave a Reply