India: Silico Manganese prices remain flat W-o-W
Indian Silico Manganese prices remain flat due to oversupply in the market. Durgapur market is the most adversely affected region as most of the Ferro Chrome producers in the region have shifted to Silico Manganese and the existing producers also operated at full capacity, which brought down the prices as the selling pressure intensified in the Durgapur area. This has also affected the Raipur market.
Although the demand in Domestic market remains dull, the export market is witnessing an increased number of inquiries. Despite good inquiries, the prices dropped in the export market amidst currency fluctuations. The offers in the market are as under:
• Ex-Durgapur(60-14)- INR 62,000-62500/MT
• Ex-Raipur(60-14)- INR 62,000/MT
• FOB India (60-14)- USD 880/MT
• FOB India (65-16)- USD 970/MT
On the future outlook, the prices are expected to remain stable for the coming week. Meanwhile, the export prices are mostly dependent on the Chinese market’s comeback post-holidays.
source: SteelMint
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