Silico Manganese prices remain firm inspite of weak demand

Indian Silico
Manganese prices remain firm inspite of weak demand as the production cost
remains high.

India:

* Raipur:  (SiMn)
60-15 in Raipur is being quoted at Rs 58,000-59,000/MT i.e.  same as last
week.  “Demand at present is weak. Liquidity crunch is also another
issue.  So, market players prefer to wait and watch before getting into any
trade,” said a top official from a major manufacturing company.

* Durgapur: Prices
in Durgapur also remain firm and buying interest continues to be weak. 
Low grade SiMn 59-13 was herad being quoted at Rs 56,500/MT i.e. unchanged from
the quotes seen previous week.

* Odisha:  Demand
looks ok. (SiMn) 60-15 trades at Rs 59,000-60,000/MT. High carbon (HC)
ferromanganese 70-75%, is traded between Rs 58,000-61,000/MT.  Whereas,
Ferro Chrome of 60-65% HC is traded between Rs 69,000-71,000/MT.

Prices in the
international market also remained almost unchanged. Enquiries have also dropped this
month due to the high volatility in Dollar.

Europe:
European Silico Manganese market remained quiet with no major changes seen in
the price for the material. According to
European sources, the current price for (SiMn) 65/17 is hovering between EUR
1,020-1,070/MT DDP i.e. same as last week.

China:
 (SiMn) 65/17 in China has however increased slightly to USD 1,500-
1,530/MT.  The procurement prices for high carbon (HC) ferromanganese 65%
has also slightly increased to the range of RMB 6,700-6,800/MT.

US: Activity
in the US silicomanganese market is also low and it is not anticipated to rise
in the coming weeks. According to US participants, prices for (SiMn) 65/17
holds at USD0.69-0.72/lb i.e. no change compared to last week.