Silico Manganese prices unchanged from last week as buyers and sellers reported limited activity and a resistance from sellers to lower prices
Silico Manganese 60-14 is being offered in the range at Rs. 53,500-54,000 /MT (Ex-Raipur) and at Rs. 54,000 /MT (Ex-Durgapur). According to sources, Prakash Industries is offering Silico Manganese at Rs. 53,000 /MT (Ex-Champa, Chhattisgarh). A distributor reported to SteelMint that TATA's branded Silico Manganese 60-15 Silicomag is being offered at Rs. 53,500 /MT and Silico Manganese 50-12 at Rs. 43,500 FOR West Bengal.
Market participants expect to see little change in prices because steel fundamentals remain largely unchanged, despite the rise in steel prices recently.
In the export market, Indian producers have raised offer levels in line with strengthening of the Rupee, and with increase in demand from Europe, Middle-East and Far-East Asian countries. Silico Manganese 60-14 is being offered at $ 840 /MT FOB East-coast India, and Silico Manganese 65-16 is being offered at $ 950 /MT FOB East-coast India.
SteelMint assessed that the current prices are neither too high nor too low, and seems acceptable to both buyers and sellers, amid little change expected in the demand and supply fundamentals.
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