India: Silico Manganese Prices Stable Amid Modest Demand
Indian Silico Manganese Prices were stable amid moderate demand in the domestic market. Producers stated that the market sentiments were almost similar throughout the market and due to the prevailing dull steel market, redemption of prices cannot be foreseen in the near future.
SteelMint assessed that due to a severe liquidity crunch in the market with Fiscal year-end, producers are mostly diluting their stocks at this period. Also with the upcoming elections, the demand for finished products gets low and hence the prices of raw materials such as Silico Manganese suffer.
Producers in Raipur are offering at INR 66,500-67,500/MT and in Durgapur the price quoted in between INR 66,500/MT to INR 67,000/MT for 60-14 grade, however, a few deals were also heard at higher rates of INR 67,500/MT in Raipur. Despite moderate demand Indian Silico Manganese producers are quoting higher prices in the export market owing to a stronger rupee and weaker dollar. Producers are offering 60-14 grade at USD960/MT and grade 65-16 is being offered at USD 1060/MT.
On the future outlook, Silico Manganese producers believe that the prices may not increase in the near future, but may increase in May. Traders are of the opinion that due to year ending the prices were down and now they are in a wait and watch mode till the elections are over with. The prices may redeem depending upon the MOIL prices for Manganese Ore.
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