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
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
