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...