- Regular export inquiries support domestic price gains
- Balanced fundamentals keep market sentiment positive
India’s medium-carbon silico manganese prices increased modestly during the week ended 4 June, supported by stable domestic trading activity and favourable export opportunities. Prices of medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) increased by INR 300/t ($3/t) w-o-w to INR 87,800/t ($917/t) ex-works Durgapur.
Market sentiment remained positive as suppliers maintained firm offers amid steady buying interest from both domestic and overseas consumers. Offers were at INR 87,400-88,200/t ($912-921/t), with around 250 t traded at INR 88,000/t ($919/t) during the assessment period. Consistent export enquiries and balanced supply-demand fundamentals helped sustain market confidence, while buyers continued procurement on a requirement basis.
However, downside pressure may arise as manganese ore miner South32 has reduced its July 2026 offers for China. The Mn37% South African semi-carbonate manganese ore lump price was set at $4.85/dmtu, down $0.15/dmtu from June.
Outlook
India’s medium-carbon silico manganese prices are expected to remain firm, supported by steady demand, export enquiries, and balanced market fundamentals. Lower offers from South32 could weaken cost support, but steady demand is likely to offset its impact in the next week.
