SiMn 60/14 Raipur Market Update – Mild Correction Amid Slower Demand

The domestic Silico Manganese 60/14 market witnessed a marginal correction this week, with trade activity slightly easing compared to the previous cycle. Demand from domestic steelmakers softened, while export interest remained subdued.

Current Price Levels (Spot Indications)

• SiMn 60/14 – EXW Raipur: ~₹72,800/PMT

• SiMn 60/14 – EXW Raigarh: ~₹72,200/PMT

Compared to last week, prices have corrected slightly, reflecting cautious buying sentiment across alloy-consuming units.

Domestic Market Sentiment

The week was characterized by:

• Slower spot enquiries from secondary steel producers

• Controlled procurement cycles

• Need-based buying rather than inventory build-up

• Reduced aggressive participation in spot tenders

The overall tone remains cautious, with buyers avoiding large-volume commitments.

Secondary Steel & Billet Influence

The broader secondary steel ecosystem continues to move within a narrow range:

• Mandi Gobindgarh Billet: ~₹43,000/PMT

Billet stability without strong upward traction has limited fresh momentum in alloy procurement. Mills are aligning alloy purchases strictly with immediate production requirements.

Export Market Overview

Export enquiries for SiMn remain slow this week. Overseas buyers have not provided strong price support, which typically cushions domestic demand slowdowns.

The absence of export-driven pull is contributing to the current sideways-to-soft domestic bias.

Market Assessment

• Price movement: Mild correction

• Demand tone: Slightly weak

• Billet correlation: Rangebound

• Export influence: Limited

Unless billet demand strengthens or export participation improves, the alloy market is expected to remain range-bound in the near term.

Metalsbuy Price Edge Insight

In a controlled and margin-sensitive environment, Price Edge by Metalsbuy helps market participants with:

• Real-time regional alloy tracking

• Comparative price benchmarking (Raipur vs Raigarh)

• Early trend detection

• Data-backed negotiation support

When the market lacks clear direction, precision matters more than ever.

Weekly Snapshot