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The price of silicon manganese in India
remained stable. As the silicon manganese manufacturers in Raipur have
completed the target from February to March, they are now starting to increase
their quotation. The ex factory price of silicon manganese in Raipur was 99200
rupees / ton, and that in Durgabur was 97500 rupees / ton. The quotation of
some manufacturers was increased to 101000 rupees / ton. In terms of export,
the export price of 6014 silicon manganese is 1310 US dollars / ton and 6516
silicon manganese is 1455 US dollars / ton.
However, only about 2000 tons were traded
at this price level last week. Due to the New Year holiday, export demand
remained relatively weak, especially from Europe. However, last week, major
exporters still had a small number of inquiries from the Middle East from
February to March. Once export enquiries resume, prices are expected to rise.
Small steel mills are reluctant to purchase
silicon manganese at high prices because of the low demand in domestic and
export markets and the pressure on steel prices. Therefore, the price of
silicon manganese remains stable.
Indian silicon manganese manufacturers are
optimistic, waiting for the return of European buyers to point out the
direction for the market.