Silico manganese prices remain unchanged in the domestic market as demand is moderate. Currently, 60-14 grade is being offered at around INR 57,000/MT (ex-Raipur) and INR 58,000/MT (ex-Durgapur). According to sources, Prakash Industries is currently offering Silico manganese at INR 56,000/MT (ex-Champa). Market sources cited that slack demand and reduction in Ingot production in India are constraining prices.

Export Market

In view of low demand from the export market for almost few weeks, Indian producers have reduced their offers to garner greater buying interest. Silico manganese 60-14 is currently being offered at USD 920/MT FoB East Coast India and Silico manganese 65-16 is at USD 1,020/MT FoB East Coast India. In the export market, there is some confusion as there is talk of incentive on Silico manganese export to be scrapped. If incentive on exports will be scrapped, it will lead to hike in export offers.

Most market sources reported that the general outlook of Silico manganese market is dull as there is a downtrend in demand and believe there is little or no possibility of any price rise till month-end.

• [Editor:Sophie]