Indian Silico Manganese Prices remains unchanged W-o-W amid steady market.
In the last week of Feb’19, the market remained steady with moderate demand in the domestic market. Traders reported that the supply demand dynamics is quite stable and therefore the change in prices are highly unlikely.
Demand from Export market is low and due to the oversupply scenario of Silico Manganese Worldwide. Prices were raised by the producers previous week in line with rising ore prices, but owing to the lower acceptance by the buyers at raised offers, producers had to reduce their prices marginally.
Prices in the last week of Feb’19 in the domestic market are at around INR 68,000/MT and INR 67,500/MT for Ex-Durgapur and Ex-Raipur respectively. Amid limited demand in the export market, producers have maintained their offers prices for 60-14 grade at USD 935/MT FOB India and for grade 65-16 at USD 1035/MT.
Due to continuous correction in Steel Prices an uptick in Silico Manganese Prices are highly unlikely. Traders have reported that the prices are to be remain constant and are not likely to change anytime soon. However, change in Ore prices may put an impact on the Silico Manganese Prices.
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Indian Silico Manganese Prices are under pressure due to various factors as it is highly dependent on the inventory level possessed by the producer and the region they are offering from and also the grade quality.
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