India's silico-manganese export market to cement rally on firm fundamentals - trade sources [CORRECTED]

The Indian silico-manganese export market should cement recent price gains that have pushed up the high end of the range to a level last seen in April 2018 on firm domestic fundamentals that are influencing exporter offer prices, industry sources told Fastmarkets.

Indian trade sources said firm domestic demand has encouraged higher export offer prices to customers in Southeast Asia, the Middle East and Turkey. Additionally, higher manganese ore and ocean freight prices have buttressed that price support.
Indian manganese alloys producers are at full production and have nothing much to offer until May at the earliest, sources said.
Fastmarkets assessed the price of silico-manganese, 65% Mn min, min 16% Si, fob India at $1,120-1,150 per tonne on Friday March 5, up by $40 from $1,080-1,110 per tonne a week earlier. The market was last around its current level on April 20, 2018, when the price range was $1,180-1,190 per tonne.

"Indian export offer prices should certainly not drop in March, although we will have to see the level of demand in India for...

Published

Declan Conway

March 10, 2021

20:20 GMT

Galway, Ireland