INDIAN SiMn SNAPSHOT: Export price hit by rupee weakness

Key data from the August 25 pricing session in London.

Key data from the August 25 pricing session in London. 

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



Change to midpoint of range

Midpoint % change





Key drivers
– The Indian rupee fell to its lowest level against the US dollar in two years on Monday August 24 as concerns over China’s economic growth prompted a sell-off in India’s equity market.

– Rupee weakness is reflected in lower prices for Indian silico-manganese in dollar terms, though producers, traders and consumers reported that there was no change to market sentiment or production costs.

– Market participants highlighted a wider range of prices achievable due to variable production and port costs across India.

– Spot deals are sparse in the export market as participants wait to hear the outcome of Europe’s anti-dumping investigations, and for demand to pick up after the summer lull.

Key quote
“Due to currency devaluations the price level has dropped further, and even at this price the orders are not easily available.”  – Producer

Charlotte Radford
Twitter: @CRadford_MB