- Competing export offers keep prices steady
- Export pre-bookings create supply crunch
Indian silico manganese export offers were largely steady w-o-w amid limited supplies. Additionally, the export demand for manganese alloys has not witnessed any significant uptick due to which silico manganese export offers also remained stable.
BigMint’s assessment on 24 February 2025 of export prices of the 65-16 grade stood at $974/tonne (t) FOB unchanged w-o-w. However, the 60-14 variant saw a slight decline of $4/t w-o-w to $871/t FOB.
Confirmed deals ( as per BigMint)
Factors supporting prices
Competitiveness offers from other exporting countries: The price stability in silico manganese exports can be attributed to competitive offers received from Vietnam, which ranged between $850-860/t FOB.
Moreover, limited inventory levels also kept offers muted, as most smelters are booked till March and April 2025, with some even booked for half of the year.
Global manganese ore prices edge up: Another factor which cannot be ignored while factoring in the export offers is global ore prices. Prices of imported manganese ore (Mn 37-46%) remained largely steady across grades. Mn44% from Gabon stood at $4.9/dry metric tonne per unit (dmtu), up by $0.03/dmtu. Mn37% from South Africa was assessed at $4.62/dmtu, down by $0.02/dmtu w-o-w and Mn46% from Australia was at $5.24/dmtu CIF India, rising by $0.03/dmtu. However, exporters held prices steady despite a slight uptick in imported ore prices.
Chinese silico manganese tags steady: The China factor also plays a significant role in deciding price trends. A producer from China said, “At present, Chinese players are in a wait-and-watch mode, as demand for silico manganese has edged down and prices are also unchanged w-o-w.”
Prices assessed by BigMint for Chinese silico manganese were almost stable as Mn65%, Si17% prices were largely steady w-o-w, with a slight decline of RMB 55/t ($8/t) to RMB 6,030-6,420/t ($832-$885/t) exw, including taxes.
Outlook
India’s silico manganese export prices are likely to remain steady in the near term, driven by ongoing material shortages and heightened competition from other exporting countries, which influence global market trends.
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