- Ferro chrome prices increase w-o-w amid supply tightness
- Silico manganese prices up as export demand edges up
Ferro chrome prices recover w-o-w amid limited supply
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices rose by INR 900/t ($10/t) w-o-w to INR 98,200/t ($1,130/t) exw-Jajpur. Prices increased following material shortages and a boost in export demand. However, prices of stainless steel 304-grade hot-rolled coils (HRCs) fell by INR 2,000/t ($23/t) w-o-w to INR 176,000/t ($2,026/t) exw-Mumbai.
Silico manganese prices rise to 7-month high
Indian silico manganese prices surged w-o-w by INR 1,550/t ($13/t) w-o-w to INR 72,900-74,300/t ($839-855/t) in key regions of Durgapur, Raipur and Vizag. This follows a rise in export prices w-o-w due to increasing demand and limited supply. Prices have risen to a seven-month high, as per data maintained with BigMint.
Additionally, prices of the 65-16 grade stood at $967/t FOB Vizag/Haldia, India, up $6/t w-o-w.
Ferro manganese prices continue to move up
Indian ferro manganese (HC 70%) prices went up by INR 1,000/t ($12/t) to INR 76,000/t ($875/t) exw in Durgapur. Prices exw-Raipur were also up by INR 600/t ($7/t) to INR 76,000/t ($875/t). Prices increased because of production cuts and improved export inquiries.
Meanwhile, HC 75% ferro manganese prices also went up by $5/t w-o-w to $972/t FOB Vizag/Haldia.
Imported manganese ore prices continue upward trend
Prices of imported manganese ore (Mn 37-46%) inched up across grades. Mn44% from Gabon stood at $4.87/dry metric tonne per unit (dmtu), up by $0.04/dmtu. Mn37% from South Africa was assessed at $4.64/dmtu, up by $0.07/dmtu w-o-w and Mn46% from Australia was at $5.21/dmtu CIF India, rising by $0.05/dmtu.
However, cargo arrivals of all the three grades decreased by 74% w-o-w.
Additionally, South32, a leading global miner, has announced prices of 37% grade South African semi-carbonated manganese ore lumps. Prices have been raised by $0.6/dmtu m-o-m for March shipments and currently stand at $4.65/dmtu CIF China.
Ferro silicon prices rise on limited supplies
Indian ferro silicon prices increased by INR 500/t ($6/t) w-o-w to INR 101,400/t ($1,167/t) exw-Guwahati. Prices also surged by INR 1,200/t ($14/t) in Bhutan to INR 101,600/t ($1,169/t) exw. Prices increased because most sellers in north-eastern India had limited material available for sale, which encouraged them to raise offers. Additionally, in Bhutan, players were mostly in a wait-and-watch mode.
Ferro molybdenum prices rise amid global fluctuations
Indian ferro molybdenum prices went up by INR 30,250/t ($348/t) w-o-w to INR 2,573,700/t ($29,623/t) exw-India. Prices went up significantly due to the Indian rupee’s depreciation against the US dollar recently which impacted molybdenum oxide and ferro molybdenum prices.
However, prices on the London Metal Exchange (LME) were largely stable, edging down slightly by $0.20/lb w-o-w to $20.55/lb.
Ferro vanadium prices rise on tight supply
Indian ferro vanadium (FeV 50%) prices edged up w-o-w by INR 11,000/t ($127/t) to INR 1,096,000/t ($12,615/t) exw-Raipur. Rising production costs prompted manufacturers to cut output, tightening supply and driving prices higher. However, declining steel mill bids kept market sentiment weak, leading to limited inquiries and continued price pressure.
IEX spot prices edge down w-o-w
Electricity prices on the Indian Energy Exchange (IEX) inched down to INR 4.35/unit during the period from 9-15 February, going down from INR 4.48/ unit in the previous week, decreasing by 3% w-o-w.
Auction Notice
Trade
Leave a Reply