Silico Manganese prices are unchanged from last week as buyers and sellers reported limited activity and a resistance from sellers to lower prices, with shortage of Ore in the market.

Silico Manganese prices remain stiff in the domestic market .Current prices of Silico Manganese (grade 60-14) are at INR 53,500-54,000 /MT (Ex-Raipur), INR 55,000 /MT (Ex-Vizag) and INR 54,000-54,500/MT (Ex-Durgapur).According to sources Prakash Industries is currently offering Silico Manganese at INR 54,000 /MT (Ex-Champa).TATA’s branded Silico Manganese 50-12 Silicomag is being offered at INR 43,000 /MT FOR West Bengal.

[su_quote]A producer from Durgapur remarked, “Presently in the market there is scarcity for Manganese Ore, so prices are stable in the market.”[/su_quote]

Export Market

Deals and offers were sparse in the export market this week because participants were not immediately seeking material after returning from the New Year holidays, sources said. Silico Manganese 60-14 is being offered at USD 880 /MT FoB East-coast India, 65-15 is being offered at USD 990 /MT FoB East-coast India, and 65-16 is being offered at USD 1010 /MT FoB East-coast India.

On the future outlook, SteelMint assessed that Silico Manganese prices were generally in line with market expectations .Market watchers are uncertain about any price rise and most of them expect that market condition to remain stable for this month.

Exchange Rate: USD 1= INR 61.54