India: Silico Manganese Prices Gain Support from Increase in Ore Prices
Indian Silico Manganese prices remain unchanged in Raipur but rises steeply in Durgapur, as producers in Durgapur mostly rely on imported Ore.
Prices of South African Carbonate Ores increased sharply on 02 Mar. South African Carbonate ore is mainly used in making 60-14 grade of Silico Manganese. As a result 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. Prices in Raipur remained unchanged amid limited demand. Meanwhile, producers maintained the export prices despite poor demand.
Prices for HC Silico Manganese in Ex-Raipur remained at INR 67,500/MT. However, Producers in Durgapur are offering Silico Manganese in the range of INR 68000/MT to INR 68500/MT. Export prices remained unchanged at USD 935/MT FOB India for 60-14 grade and USD 1035/MT for grade 65-16.
Despite moderate demand Silico Manganese prices are not inching downwards, this indicates that prices are ought to rise once overseas demand picks up.
source: SteelMint
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