Indian silico-manganese market falls 6%, Europe tracks lower

The Indian silico-manganese export price range fell 6% last week after export sales have been declining since the start of May when suppliers pushed prices higher, in line with stronger manganese ore prices and after manganese alloys production was slashed in India, Fastmarkets heard.

In Europe, high-carbon ferro-manganese and silico-manganese market prices also eased amid quiet spot activity and lower-priced deals, sources said.
Fastmarkets' silico-manganese 65% Mn min, min 16% Si, fob India price dropped to $1,000-1,020 per tonne in the week to Friday May 15 from $1,050-1,100 per tonne a week before.
The move down followed a firm price increase in late April back to the annual peak reached last in October 2018.

"The higher offer prices got some deals done between $1,050 and $1,100 per tonne and there were even some offers as high as $1,150 per tonne," one Indian trade source said. "But there was no follow-through buying after that initial demand and...

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