India: Silico Manganese Prices Remain Unchanged In Lacklustre Market

Indian Silico Manganese prices remained unchanged amid moderate demand in the domestic market. The prices of Silico Manganese were mostly affected due to the bearish steel market.

Most market participants believe that the market conditions are likely to remain same until elections get over in India. However, fresh round of demand may start post elections.

Silico Manganese Prices for 60-14 grade are assessed at INR 67,000/MT Ex-Raipur and Ex-Durgapur, deals are concluded in the range of INR 67,000 - 67,500/MT. Despite moderate demand Indian Silico Manganese producers are quoting higher prices in the export market owing to a stronger Rupee. Producers are offering 60-14 grade in a range of USD 965 - 975/MT and grade 65-16 is being offered in a range of USD 1060 - 1070/MT in export market.

On the future outlook, the market may redeem in the near-term only after the elections. However, price rise may vary depending on the stocks available with each producer.