On May 14, SteelOrbis reported India’s domestic silicomanganese offers at INR 63,500-64,000/mt ($939-946/mt) ex-works.
Sources inform SteelOrbis that the “downward trend may have possibly hit bottom” and prices have rebounded slightly up by $8/mt to INR 64,500-65,000/mt ($947-954/mt). The increase is attributed on an increase in inquiries for export that will reduce domestic supplies.
USD = INR 67.62 (May 14)
USD = INR 68.14 (May 21)