Silico Manganese Prices Fall in Domestic Market
Steel manufacturers are going through tough times as the margins which effects the demands of Silico Manganese. Moreover, global demand also suffers because of Christmas holidays in December. Although, lower prices of Manganese Ore have brought the producers some relief, during the sluggish market conditions.
The prices of Silico Manganese in global market rises from USD 950/MT and USD 1030/MT to USD 955/MT and USD 1040/MT FOB India for the grades 60-14 and 65-15 respectively and domestic prices in India narrowed to INR 67,500/MT and INR 68,000/MT from INR 69,000 /MT for both Raipur and Durgapur respectively.
Further to make the situation worse, quite a few sellers have been selling Silico Manganese lower than the current market price which has resulted in Silico Manganese prices falling further. Despite the Price fall there is not much demand for Silico Manganese in the domestic as well as the export market. Due to Rupee appreciation against USD, the exporters cannot lower their prices in global market to entice greater buying interest. However, the only light relief for the producers is the lowered prices for Manganese Ore.
On the future outlook, a further correction cannot be ruled out and there is limited chance of Silico Manganese prices rising up unless steel fundamentals show improvement.
source: SteelMint
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years