- Smelters offers discounts due to production resumption
- Domestic silico manganese prices dip w-o-w
India’s prices of domestic 60-14 grade silico manganese witnessed slight decline by INR 775/tonne (t) ($9/t) w-o-w to range in between INR 72,400-73,600/t ($831-845/t) exw on 26 February 2025, as per BigMint’s assessment. The slight correction in prices can be seen because of the resumption in productions and market discounts.
In Raipur mostly offered prices were at INR 73,000/t ($838/t), while Vizag catered offered prices ranging in between INR 73,500-73,700/t ($844-846/t) exw.Some deals were also finalized at these values.
Meanwhile, The premium 60-15 grade also saw stability w-o-w at around INR 75,000-76,000/t ($861-873/t) exw in Durgapur and Raipur compared to INR 75,600-76,400/t ($868-877/t) last week.
Confirmed deals (as per BigMint)
Market overview
Resumption of production led smelters to offer discounts: Silico manganese prices have experienced slight declines as production levels have increased. Many manufacturers, previously operating at 50% capacity, have now resumed production and are operating at 90% capacity utilisation. This surge in supply has led to increased competition, compelling existing sellers to offer discounted prices in order to maintain market share. The influx of sellers and heightened production levels have contributed to the pressure on price stability in the market.
Export offers sees marginal stability: 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 26 February 2025 of export prices of the 65-16 grade stood at $972/tonne (t) FOB edged down from $977/t FOB w-o-w. Meanwhile, the 60-14 variant saw a slight decline of $4/t w-o-w to $871/t FOB.
Outlook
Domestic silico manganese prices may fluctuate slightly in the near term due to minor corrections in steel prices. With need-based buying driving demand, market activity remains cautious, and price movements will largely depend on steel market trends.
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