On September 10, SteelOrbis reported Indian domestic silicomanganese offer prices up at INR 67,200-67,500/mt ($926-930/mt) ex-works Raipur and INR 67,400-68,000/mt ($929-937/mt) ex-works Durgapur.
According to sources close to SteelOrbis, prices have increased in early October and are presently at INR 71,000-72,500/mt ($971-991/mt) ex-works Raipur and INR 70,100-71,500/mt ($959-978/mt) ex-works Durgapur. Raipur prices increased $45/mt from the bottom of the previous range and $61/mt from the top of the same range. Durgapur prices increased $30/mt from the bottom of the previous range and increased $13/mt from the top of the same range. A source reported moderate to strong demand in both regions along with recent price increase announcements on manganese ore by Manganese Ore India Limited (MOIL).
USD = INR 72.58 (Sep 9)
USD = INR 73.09 (Oct 2)