Silico-manganese prices in Raipur up by INR 1,000/t W-o-W
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Indian silico-manganese prices increased marginally in the latter part of the last week. The prices made a significant upswing in Raipur, as few producers are catering to the pre-booked government orders, while others shifted to higher graded material due to better demand in the export market. therefore, creating a scarcity of grade 60-14 in the Raipur market. There is a severe issue of dispatches in the Raipur, and therefore, the producers who are offering 60-14 at INR 62,000/t are not negotiating in the current situation. However, in the Durgapur market, the offers are at around INR 61,000- 62,000/t, INR 62,000/t is only the offering prices, while the deals are being concluded in the range of INR 61,000-61,500/t.
Meanwhile, the export market remained silent, with limited trade happening. Currently, the prices in the export market are at $810-820/t for 60-14 grade and $910/t for 65-16 grade fob India.
Manganese ore
Prices of manganese ore fell yet again making a fifth consecutive fall. The prices have been going down since the Chinese transactions went down and logistical bottlenecks from South Africa have eased. However, the prices are still higher as compared to the present expectations from the buyers.
Outlook
The price of silico-manganese is volatile right now, however, reduction in the prices is highly unlikely in the coming weeks. There is also a notion that the manganese ore prices from MOIL might reduce in line with the falling imported ore prices, giving better margins to the Manganese Alloy producers.
