INDIAN SiMn SNAPSHOT: Year-end destocking prompts 6% price drop

Key data from the December 8 pricing session in London.

Key data from the December 8 pricing session in London. 

Silico-manganese 65% min Mn, 16% min Si, $ per tonne, fob India

Today

Previous

Change to midpoint of range

Midpoint % change

 600-650

650-680

-40

6%


Key drivers
- Producers have reduced their offer prices in order to secure business and reduce their stocks as the end of the year approaches.
- At lower prices, producers have seen an uptick in interest, but the market is still relatively slow, and is expected to remain so over the holiday period.

Key quotes
“Certain demand has come in the past week as buyers want to buy before the close of the year” – Producer
“Producers are destocking before the year-end, so prices are lower” – Trader
“A producer refused to make me an offer; some are not willing to sell at these prices” – Trader

Charlotte Radford 
charlotte.radford@metalbulletin.com
Twitter: @CRadford_MB 

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