9 plants participated in the techno-commercial bid for the latest SAIL tender in which it intends to procure a tentative quantity of 34,720 MT silico manganese.
The SAIL tender which was issued in January’16 for purchase of 34,720 MT silico manganese, which will meet the requirement of its various plants and for a duration of 4 months (February – May 2016).
The techno-commercial bid revealed that 9 plants had participated in the tender. The final results of the tender should be known by the coming week.
List of Participating Companies with offer quantities for Market 1 (BSP-Bhilai) & Market 2 (BSL-Bokaro, DSP-Durgapur, ISP-Burnpur, ASP-Durgapur):
| Sl.No | Company | Market 1 (Quantity in MT) | Market 2 (Quantity in MT) |
| 1 | Hira Power (Raipur) | 6,000 | Nil |
| 2 | Vandana Global (Raipur) | 6,000 | Nil |
| 3 | Maithan Alloys (Kalyaneshwari) | 5,000 | 16,000 |
| 4 | Sarda Energy (Raipur) | 6,000 | Nil |
| 5 | Nilkanth Ferro (Durgapur) | 4,000 | 10,000 |
| 6 | Castron Technologies (Jharkhand) | Nil | 8,030 |
| 7 | Shree Bholey Alloys (Jharkahand) | Nil | 8,200 |
| 8 | Sova Ispat Alloys (West Bengal) | Nil | 6,080 |
| 9 | Hira Power (Raipur) | 4,000 | Nil |
Silico Manganese Prices Rise
The silico manganese market strengthened further , after the uptick in prices last week. SteelMint assessment of silico manganese grade 60/14 was made at INR 40,500 (Ex-Raipur and Ex-Durgapur). According to sources, Prakash Industries is currently offering Silico Manganese at INR 39,000/MT (Ex-Champa). Most market participants said that they are uncertain about what direction the silico manganese market will take after the domestic steel market witnessed a sharp correction after the sudden rise on MIP imposition.
Silico manganese exports offers have increased marginally on rise in inquiries. SteelMint assessed that grade 60-14 is being offered at around USD 600/MT FOB East-coast India, and grade 65-16 is being offered at around USD 650/MT FOB East-coast India.
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