Indian Silico Manganese Prices Go Down amid Low Demand

Indian Silico Manganese prices are under pressure in line with low demand in the domestic as well as overseas markets. Prices in Durgapur and Raipur corrected marginally in the domestic market, as the producers are facing thin trading activity. A few producers are readily lowering down the prices to attract buyers. Meanwhile, demand in the global market is also slow, owing to the recent currency exchange rate adjustments, producers are reducing their prices.

Demand for Silico Manganese is low and the overall market remains depressed. In Durgapur, Silico Manganese 60-14 is being offered in the range of INR 64,500-65,000/MT Ex-Durgapur. In Raipur, the prices are in the range of INR 64,000-64,500/MT. In the Export market, the demand remains moderate; producers are offering 60-14 grade at USD 935/MT and 65-16 is being offered at USD 1035/MT.

On the future outlook, any possibility of an increase in prices is highly unlikely in the near future as producers are sitting on high inventory levels.