On January 22, SteelOrbis reported India’s domestic silicomanganese offers declining $23-29/mt over the previous week to INR 69,000-70,000/mt ($1,079-1,095/mt) ex-works in the regions of Dugapur and Raipur.
Today, sources report prices sliding down further to INR 67,500-68,500/mt ($1,052-1,068/mt) ex-works in the regions of Dugapur and Raipur. The new offers declined $27/mt over the past two weeks on adjustments to increase buying interest.
USD = INR 63.94 (Jan 22)
USD = INR 64.15 (Feb 6)