India's SiMn market to face pressure from low demand in near term

The Indian silico-manganese export market will come under pressure in the near term because of slow demand and falling manganese ore markets, Fastmarkets heard on Tuesday October 27.

The market has been softening in recent weeks although it was now back at a level last seen on August 14.
Fastmarkets’ most recent price assessment for silico-manganese, 65% Mn min, min 16% Si, fob India, was $860-890 per tonne on October 23, widening downward by $10 per tonne, and down from $890-910 per tonne at the start of September. The market was at a year-to-date peak of $1,050-1,100 per tonne in the first week of May.
There has been little demand from traditional buyers in Southeast Asia since the seasonal summer slowdown, with steady domestic Indian demand propping up export offer prices.

But domestic Indian demand for lower grade 60/14 silico-manganese was expected to soften in the...


Declan Conway

October 27, 2020

15:05 GMT