Despite an overall dull scenario, prices of silico manganese (SiMn) have firmed up by about Rs 1,000 per ton in domestic markets as a number of producers have cut production levels, resulting in lower availability, market sources said.
"The price of SiMn, which was quoted at Rs 38,000 per ton 15-20 days back, is currently being offered at Rs 39,000 per ton, because of low stock, but this is happening primarily in domestic sales," they said.
As far as exports are concerned, there is absolutely no enquiry from anywhere though offer rates are hovering around $570 per ton FOB, he said.
"Despite the recent devaluation of the Chinese yuan that has led to appreciation of the US dollar versus the Indian rupee, there seems to be no enquiries for exports," the trader said.
ISMW