The decline in Manganese Ore prices has allowed Indian Silico Manganese producers to further cut their offers.
Overseas demand for Silico Manganese has also come down and the decline in price is steeper and faster than expected.
SteelMint assessed that the number of Silico Manganese deals are lessening, as buyers are adopting a wait-and-watch stance, in view of the falling prices.
Aided by the falling Manganese Ore prices, the Indian players have decided to cut their offers to consummate trade. Silico Manganese 60-14 is currently being offered at USD 880 /MT FOB East-coast India, and Silico Manganese 65-16 at USD 1010 /MT FOB East-coast India.
SteelMint learned that the manufacturers of Manganese Alloys are weighed down by deteriorating external demand and destocking pressures.
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