On July 30, SteelOrbis reported Indian domestic silicomanganese offer prices at INR 64,800-66,000/mt ($944-962/mt) ex-works Raipur (central east India) and ex-works Durgapur (east India) regions.
Sources inform SteelOrbis that domestic silicomanganese offer prices are now at INR 63,500-64,500/mt ($905-919/mt) in both regions with ex-works Raipur prices on the lower end of the range. While prices did decrease in INR terms, due to the strong currency fluctuations the price erosion in dollar terms is more pronounced. Over the past two weeks, prices declined $39/mt from the bottom of the previous range and $43/mt from the top of the same range.
USD = INR 68.64 (Jul 30)
USD = INR 70.19 (Aug 15)