India's silico-manganese export price hits record high on surging demand

The Indian export price for silico-manganese jumped by nearly 9% on Friday March 19 to the highest since Fastmarkets started to assess the market in June 2014.

Fastmarkets assessed the silico-manganese, 65% Mn min, min 16% Si, fob India price at $1,250-1,280 per tonne on Friday, up by $100 per tonne, or 8.58%, week on week. The previous high of $1,220-1,260 per tonne was achieved in February 2018.
Export offer prices were reported as high as $1,300 per tonne, but that was seen as too ambitious by most exporters.
Indian producers have nothing to offer until May or more likely June, with demand reported from traditional customers in Southeast Asia, the Middle East, North Africa and Europe, sources said.
Indian export deals were reported at $1,250 per tonne for lots of a few hundred tonnes into Taiwan and Iran, with most buying inquiries from Europe into Italy.

"The market has shot up against a sudden surge in demand in the past week," one Indian source said. "The container shortage...

Published

Declan Conway

March 22, 2021

16:55 GMT

Galway