Silico manganese export market confirmed further weakening in prices as demand continues to be at a low level.
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 920 /MT FOB East-coast India, and 65-16 is being offered at USD 1060/MT FOB East-coast India.
In the domestic market Silico Manganese 60-14 is being traded in the range of INR 61,500/MT (Ex-Durgapur) and at around INR 61,000/MT (Ex-Raipur).
On the future outlook, Indian Silico Manganese prices are under pressure, as the industry is facing a supply overhang, but with high cost of production (Manganese Ore, Met Coke, etc.) downside is limited.
Silico Manganese Export Market
Indian Silico Manganese export stood at 278,656 MT in FY17 (Apr-Nov) against 532,415 in FY16. There has been a decrease of 25% in the export volume in FY17 in contrast to same period of FY16.
Silico Manganese exports have witnessed a fall of 2% M-o-M, as it was 37,431 MT in Oct’16. However, it has gone up by 8% Y-o-Y basis as exports were around 36,684 MT compared with the same month of previous year.
Japan emerged to be the largest importer of Indian Silico Manganese with an import of 46,767 MT in FY’17 (till November) followed by Italy and Taiwan. Japan accounted for around 17% of the total Indian Silico Manganese export volume, whereas, Italy and Taiwan imported 12% and 11% respectively.
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