India: Silico Manganese Prices Under Pressure Amid Low Demand
Indian Silico Manganese Prices have been falling gradually every week for some time now. Amid low demand and sluggish market sentiments for finished steel, producers are reducing the prices to entice buyers. Demand is weak in both domestic as weak as the global market.
Owing to the current Indian currency depreciation, producers are reducing their offer prices for export. However, prices of higher grades are still less affected in the global market due to stable Manganese Ore prices.
Demand for Silico Manganese is low and the overall market remains depressed. In Durgapur, Silico Manganese 60-14 is being offered at INR 64,500/MT Ex-Durgapur. In Raipur, the prices are in the range of INR 63,500-64,000/MT Ex- Raipur. In the Export market, the demand remains moderate; producers are offering 60-14 grade at USD 930/MT and 65-16 is being offered at USD 1020/MT.
On the future outlook, prices of Silico Manganese are to remain under pressure and prices are anticipated to go below the present levels. Any rise in prices is therefore highly unlikely owing to the timid demand.
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
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
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
