India's silico-manganese export price hits record high on firm fundamentals

The Indian silico-manganese export price moved up for the fourth week in a row on Friday June 4, extending its longer-term rally since February 12 on renewed steelmaker demand and tight availability.

Fastmarkets assessed the silico-manganese, 65% Mn min, min 16% Si, fob India price at $1,400-1,430 per tonne on Friday, up by about 3.3% from $1,360-1,380 per tonne week on week. The price is at its highest since Fastmarkets started to assess the market in June 2014.
No spot deals were reported, although Indian manganese alloys producers have been emboldened to increase their export offer prices because they have filled their order books, mostly to domestic customers, into September. Indian exporters are confident they can get business at the new offer price range in Southeast Asia due to reduced production overseas.
On Friday, Asian Minerals Ltd (AML) informed its customers in a letter that it was facing a potential suspension of production of silico-manganese in Malaysia after the government’s mandated nationwide lockdown.

AML is the second major Malaysian ferro-alloy producer to announce potential...


Declan Conway

June 07, 2021

14:51 GMT