India: Silico Manganese Prices Bouncing Back

Indian Silico Manganese prices continuing to be in the upswing in line with the supply shortage in the market. Meanwhile, the increased prices of Carbonate ore has also provided support to the Indian Silico Manganese Producers. In the past two-three months, when the alloy prices were hitting the bottom, many severe production cuts were brought into effect. The producers were offering from the stocked materials and now due to ore shortage have increased their prices. Producers in Durgapur and Raipur are mostly out of stock and are only catering to the previously booked orders.

Prices in the second week of December went up by INR1000/MT in Raipur, opening the week at INR 58,000/MT Ex-Raipur. Meanwhile, in Durgapur, it was up by INR 500/MT and is at around INR 59,000/MT. Moreover, the premium sized material is being traded at around INR 60,000/MT. In the export market, the price of 60-14 grade increased by USD 20/MT W-o-W to USD 800/MT, whereas, the 65-16 grade prices escalated to USD 900/MT. Meanwhile, SAIL CFP conducted e-Auction for Silicon Manganese SiMn (0-3) on Saturday 07.12.19, in which 400MT quantity was booked at INR 28600-28650/MT.

On the future outlook, Silico Manganese producers hope the prices will increase further. However, it is the deviations in the Manganese ore prices that may affect the Silico Manganese prices in the coming days.