On April 23, SteelOrbis reported India’s domestic silicomanganese offers around INR 68,000-69,000/mt ($1,021-1,037/mt) ex-works.
Sources inform SteelOrbis that prices have continued a downward decent over the past three weeks and prices are now reportedly at INR 63,500-64,000/mt ($939-946/mt) ex-works. Domestically a decline of INR 4,500-5,000/mt. As compared to previous price range, domestic silicomanganese offers in India have declined by $82/mt on the lower end and by $91/mt on the upper end of the previous range. The decline in prices is being attributed to very limited buys of the product and recent revisions by sellers seeking to close deals.
USD = INR 66.57 (Apr 23)
USD = INR 67.62 (May 14)