[Ferro-Alloys.com]Silicon manganese prices fell for the 3^rd week with demand dented as buyers were withdrawing offers owing to diminishing steel margins. 6014 grade is being offered at around INR57,500/MT (ex-Raipur), INR58,000/MT(ex-Durgapur) and INR59,500/MT (ex-Champa,Chattisgarh).Market sources said outlook is pessimistic because of downtrend in demand. Most silicon manganese producers have opted to reduce production levels viewing poor demand from steel mills.

In terms of export market, deals and offers were sparse in recent period because participants were not immediately seeking material after returning from holidays. In sight of poor demand and aided by the weekend INR against USD, India silicon manganese suppliers have decided to corrent their offers to consummate trade, as a strong dollar boosts the sales in rupee terms. Currently, 6014 grade is being offered at USD930/MT FoB East Coast and 6516 grade is at USD1,040/MT FOB East Coast India.

• [Editor:Sophie]