India: Silico Manganese Prices Corrects In Durgapur
Indian Silico Manganese prices fall in Durgapur amid moderate demand. However, in Raipur, prices remained the same as compared to the previous week. Demand in the domestic market remains lackluster.
Meanwhile, inquiries are developing in the global market especially from Japan. A Durgapur based producer stated that producers in Durgapur had been maintaining a higher level of prices as compared to Raipur for quite some time, and it was just a matter of time before the prices fell.
Silico Manganese offers for 60-14 grade in Raipur are in the range of INR 65,000 - 65,500/MT Ex-Raipur and in Durgapur deals are being concluded at around INR 66,500-67,000/MT Ex-Durgapur. Prices are stable W-o-W basis in the export market owing to limited demand. Producers are offering Silico Manganese 60-14 grade in the range of USD 930-940/MT and grade 65-16 is being offered at USD 1030-1040/MT in the export market.
On the future outlook, producers are afraid that the prices may fall further owing to bearish market sentiments. With steel prices continuously falling, one cannot expect much rise in Silico Manganese prices and moreover, producers are sitting on enough inventories now and therefore, prices are likely to continue to go on a downtrend.
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