India: Silico Manganese Prices Under Pressure Amid Low Demand
Indian Silico Manganese prices remained unchanged for Durgapur. However prices fell by INR500/MT in Raipur amid persistent low demand.
Owing to the rise in the prices of South African Carbonate Ores, producers in Durgapur and Vizag are offering at higher levels mainly because these two regions depend mostly on Imported South African Carbonate Ore for Silico Manganese 60-14 grade production, being in close proximity to a port. Meanwhile, in Raipur the prices are down due to low demand in the domestic market.
Prices for HC Silico Manganese in Ex-Raipur are at INR 67,000/MT. However, Producers in Durgapur are offering Silico Manganese at INR 68000/MT. Export prices are up by USD10/MT to USD 945/MT FOB India for 60-14 grade and USD 1045/MT for grade 65-16. with the strengthening value of Indian currency the producers had to raise their offer levels.
On the future outlook, producers from the Raipur region stated that the prices can still be corrected owing to the sluggish market conditions. On the contrary, producers from Durgapur state that the domestic demand is moderate. But both state that there is no demand from the export market.
source: SteelMin
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