Silicon manganese market is unchanged on poor end-user demand. Mostsources said the market is dull as it was a holiday and so buyers are not showing much willingness to buy. Current price for grade 6014 is around INR 57,500/MT (EX-Raipar and INR57,500/MT (Ex-Durgapur). According to sources, Prakash Industries is currently offering silicon manganese at INR56,000/MT (EX-Champa). Producers have accepted lower bids in a sign of weak industry demand.

As for export market, overseas demand for silicon manganese is also really low and the decline in price is steeper and faster than expected. Silicon manganese 6014 is being offered at USD920/MT FOB East Coast of India and 6516 grade is being offered at USD1,010/MT .

• [Editor:Sophie]