The online reverse auction tender process which was held yesterday received no bids.
The SAIL tender which was issued in January’16 for purchase of 34,720 MT silico manganese, to meet the requirement of its various plants and for a duration of 4 months (February – May 2016). The techno-commercial bid had revealed that 9 plants had participated in the tender. However, the online reverse auction which was held yesterday received no bids as participants opted out of bidding with the LCNS price fixed at INR 40,500/MT.
Silico Manganese Prices Rising
The silico manganese market strengthened further, after the uptick in prices last week. SteelMint assessed silico manganese grade 60/14 prices at INR 41,000/MT (Ex-Raipur) and INR 42,000/MT (Ex-Durgapur). Market participants cited rising demand and bullish sentiments on improved steel market in India will help in buyers accepting higher offers.
Silico manganese exports offers have increased marginally on rise in inquiries. SteelMint assessed that grade 60-14 is being offered at around USD 620/MT FOB East-coast India, and grade 65-16 is being offered at around USD 660/MT FOB East-coast India.
Leave a Reply