Silicon manganese prices remain unchanged in the domestic market participants reporting lack of trade. In Raipur, 6014 grade is being offered at around INR57,000/MT. According to sources, Prakash Industries is offering a INR55,500/MT (ex-Champa,Chhattisgarh). In Durgapur, 6014 grade is currently being traded at around INR57,500/MT. Most traders reported of a lackluster market, with hardly any buying interest in the past 10-15 days. Most end-users of silicon manganese have sufficient inventory or are holding back purchases till post Diwali.

Export Market

Overseas demand for silicon manganese is also low, 6014 grade is currently being offered at USD 920/MT FoB East Coast India and 6516 is at USD1,010/MT FoB East Coast India. In general, silicon manganese prices in India are unlikely to rise in this month, as steel fundamentals have yet to show any signs of recovery.

• [Editor:Sophie]