7 plants had participated in the techno-commercial bid for the latest SAIL tender in which it intends to procure a tentative quantity of 46,238 MT silico manganese.
The SAIL tender which was issued in May’16 for purchase of 46,238 MT silico manganese, to meet the requirement of its various plants and for duration of 4 months (Jun-Sep16).
The techno-commercial bid revealed that 7 plants had participated in the tender. The online reverse auction tender process has also been completed .
List of participating companies with offer quantities for Market-1 Berry Alloys L1, Sarda Energy L2, Prakash Industries L3 and Hira power L4 & Market 2 -Nilkant Concast L1, Prakash industries L2 and Maithan Alloys L3.
LCNS price for Market-I have been fixed at INR 47,600/MT and for Market-II at INR 48,623/MT.
Silico Manganese Prices Dip Further
Silico manganese prices eased as dwindling confidence in the steel market crimped demand. “There is simply no demand for silico manganese when the steel market is not performing well; you have only sellers but not buyers,” stated a producer from Raipur.
SteelMint assessed its weekly silico manganese grade 60/14 price at INR 45,000 (Ex-Durgapur) and INR 45,500/MT (Ex-Raipur), both prices down by INR 1,000/MT from last week. Prakash Industries is currently offering silico manganese at INR 44,000/MT.
Silico Manganese export market remained dull, as prices remained constant. Silico manganese 60-14 is being offered at around USD 700/MT FOB East-coast India, and silico manganese65-16 is being offered at USD 780/MT FOB East-coast India.
According to market sources, thin demand and expectations of lower near term domestic prices to stifle trading activity.
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