- Ferro chrome prices hit 1.5 year low
- Ferro silicon prices stable amid routine trades
Ferro chrome prices plunge
Indian high-carbon ferro chrome (HC60%, Si: 4%) prices were steady, inching down by INR 600/t ($7/t) w-o-w at INR 98,200/t ($1,139/t) exw-Jajpur. Prices fell as OMC’s chrome ore auction on 17 January witnessed m-o-m drop in bids for majority of the grades. Additionally, need-based purchases and weaker response in recent FACOR auction kept the prices steady w-o-w.
However, Stainless steel prices for 304 grade HRC witnessed an uptick of INR 3,000/t ($35/t) w-o-w to INR 180,000/t ($2,083/t) exw-Mumbai.
Silico manganese prices remain firm w-o-w
Indian domestic silico manganese prices were steady with slight decline by INR 50/t ($1/t) w-o-w to INR 69,200-70,500/t ($802-817/t) in key regions of Durgapur, Raipur and Vizag. Domestic smelters maintained steady offers w-o-w, refraining from offering further discounts on materials, as major global miners have lifted manganese ore prices, which has significantly increased smelters’ production costs.
Moreover, At SMIORE’s manganese ore auction on 24 Jan’25, only 8,064 t was booked out of 91,897 t offered at INR 2,520-14,810/t. Bids were firm against last auction on 13 Jan’25.
Imported manganese ore prices inch up w-o-w
Prices of imported manganese ore (Mn 37-46%) inched up for all three grades w-o-w. Mn44% from Gabon stood at $4.46/dry metric tonne per unit (dmtu), up by $0.06/dmtu. Mn37% from South Africa was at $4.37/dmtu, up by $0.16/dmtu and Mn46% from Australia, at $4.61/dmtu CIF India, rose by $0.07/dmtu.
Additionally, Jupiter Mines Limited, operator of the Tshipi Borwa Manganese Mine in the Kalahari manganese field in South Africa, has set the offer price for Mar’25 shipments of its high-grade Mn36.5% semi-carbonate lump at $4.1/dmtu CIF China.
Ferro silicon prices edge down w-o-w
Indian ferro silicon prices came down slightly by INR 1,500/t ($17/t) w-o-w to INR 102,100/t ($1,184/t) exw-Guwahati . Prices were stable, as routine trades for around 1,400 t were recorded in both northeast India and Bhutan at INR 101,500-104,500/t ($1,173-1,208/t) exw.
Ferro molybdenum prices rangebound in stagnant market
Indian ferro molybdenum prices inched down by INR 11,100/t ($129/t) w-o-w to INR 2,501,900/t ($29,009/t) exw-India. Prices were steady as the market witnessed limited movements both in the global and domestic sectors.
Ferro vanadium prices remain largely stable
Indian ferro vanadium (FeV 50%) prices remained largely stable w-o-w, going slightly up by INR 6,000/t ($70/t) to INR 1,086,000/t ($12,592/t) exw-Raipur. The market was stable, marked by steady pricing, despite reduced trade activity. Manufacturers raised their offers, and the limited availability of lower-priced materials supported prices.
IEX spot prices edge down w-o-w
Electricity prices on the Indian Energy Exchange (IEX) inched down to INR 4.42/unit during the period from 19-25 January 2025, falling from INR 4.67/ unit in the previous week, reflecting a 5% w-o-w decrease.
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