India: Silico Manganese Prices under Pressure amid Moderate Demand and Falling Ore Prices

Indian Silico Manganese prices are under pressure in line with moderate demand in the domestic as well as overseas markets.

Prices have corrected marginally with the help of reduction in Manganese Ore prices by MOIL and the plunging global Manganese Ore offers. MOIL decreased prices of various grades of Manganese Ore by 7.5 percent on Sunday for the month of June.

Demand in the domestic market remains moderate. Meanwhile, inquiries are developing in the global market. Producers reported that Silico Manganese is available from Zambia and Malaysia at much lower prices than being offered by the Indian suppliers, Indian producers are reportedly struggling in the export market. A few market participants believe that the only a few producers are producing 60-14 Grade in Durgapur, while many have switched to lower grades to keep up with falling prices.

Silico Manganese offers for 60-14 grade in Raipur are at INR 65,500/MT Ex-Raipur and in Durgapur deals are being concluded at around INR 67,000-67,200/MT Ex-Durgapur. Since, last week, INR fluctuated a lot with respect to USD, which provided the producers with the scope of reducing prices. Prices are stable W-o-W basis in the export market owing to lackluster demand. Producers are offering Silico Manganese 60-14 grade in the range of USD 930-940/MT and grade 65-16 is being offered at USD 1040-1050/MT in the export market.

On the future outlook, market sources are of the view that Silico Manganese prices are expected to maintain such levels in line with the falling Manganese Ore prices, and the producers are afraid that the buyers may demand the material at much lower prices owing to a bearish steel market.

News No: 4763
Date: 2019/06/07 - 19:35
News Source: SteelMint

India  Silico Manganese  Falling Ore Prices  Zambia  Malaysia 


Leave a Comment:


India: Godawari Power and Ispat Pellet Production Up 7% in Q1 FY'20

Godawari Power and Ispat Limited (GPIL) - one of the largest steel producers based in central India has released its operational results for the first quarter of FY’20 ending Jun'19.

India: Sarda Energy and Mineral Pellet Production Up in Q1 FY'20

Sarda Energy and Mineral Limited - one of the integrated steel producer based in central India has released its operational results for the first quarter of FY’20 ending Jun'19.

Central India: Jindal Cuts Power in Punjipathra; Steel Prices Move Up

Induction furnaces based in Jindal's industrial park in Punjipatra, Raigarh (Central India) has reported 12 hrs (50%) power cut by Jindal power ltd (JPL) since yesterday.

Indian Steel Prices Rally, 12 Aug'19

Indian steel prices rallied today following rumours in the market saying that Indian government has imposed safeguard duty on temporary basis by 20-25% on imported flat steel. However no official confirmation or official circular was received till the time of publication this report.

Indian Steel Market Weekly Snapshot

Indian Steel prices were down trend during the Week -32 (3-10 Aug'19) over limited spot trades. However by the end of week, the prices have gain momentum on slight improved demand in Northern India.

Malaysia allows Lynas to continue operating rare earths plant for six months

Malaysia has granted Australia’s Lynas Corp (ASX: LYC) an extension on its operating licence for a rare earths processing plant, subject to various conditions and valid only for six months, keeping alive concerns about the miner’s fate in the Southeast Asian country.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners