Indian silico-manganese market at 3-year low; Europe prices also down

Persistently weak demand and sliding manganese ore prices have combined to drag down Indian silico-manganese prices to a level last seen on October 16, while the Europe market was also lower for similar reasons, according to European and Indian industry sources on Friday October 25.

The Indian market showed a drop in export prices for the eighth consecutive week, with more losses expected, given the firm reluctance to buy among consumers in traditional markets in Southeast Asia. Fastmarkets assessed the price of silico-manganese, 65% Mn min, min 16% Si, fob India, at $850-860 per tonne on Friday, down from $890-900 per tonne a week earlier. “The weak demand in India and overseas is making producers cut their production and their offer prices,” one Indian trader said. “One offer of 300 tonnes of silico-manganese to Indonesia was not bought. There are only offer prices in the market at present, but...

Published

Declan Conway

October 25, 2019

19:33 GMT

Galway