- Ferro chrome prices largely stable w-o-w
- Silico manganese stable on flat demand
Ferro chrome prices mostly stable w-o-w on routine trades
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices were largely stable with a slight decline by INR 550/t ($6/t) w-o-w to INR 100,800/t ($1,172/t) exw-Jajpur. Prices were steady as the majority of market participants were awaiting the results of OMC’s chrome ore auction and the unfolding market dynamics.
Additionally, OMC’s chrome ore auction saw limited buying interest, with only 24,500 t sold out of 115,000 t offered. Bids dropped by 1-26% (INR 129-7,966/t) m-o-m across most grades.
Moreover, Vedanta-FACOR’s ferro chrome auction closed at INR 98,700-99,500/t ($1,148-1,157/t) exw for 10-150 mm material, reflecting a decline of INR 1,300/t ($15/t) from the 7 March, 2025 auction.
Silico manganese prices remain range-bound w-o-w
Indian silico manganese prices were largely steady w-o-w with a slight decline by INR 200/t ($2/t) to INR 71,300-72,900/t ($829-848/t) in the key regions of Durgapur, Raipur and Vizag. This stability is primarily attributed to routine trades and the steady flow of demand within the market.
Additionally, prices of the 65-16 grade also inched down $10/t w-o-w to $944/t FOB Vizag/Haldia, India.
Ferro manganese prices largely stable w-o-w
Indian ferro manganese (HC 70%) prices were largely steady w-o-w at INR 75,680/t ($880/t) exw in Durgapur, inching down by INR 45/t ($1/t). However, prices exw-Raipur, also inched up by INR 40/t ($0.45/t) to INR 75,640/t ($880/t). Prices were largely consistent as market activities remained mostly stable.
Additionally, HC 75% ferro manganese prices edged up by $1/t w-o-w to $959/t FOB Vizag/Haldia.
Imported manganese ore prices decline w-o-w
Prices of imported manganese ore (Mn 37-46%) dropped across grades. Mn44% from Gabon stood at $5.17/dry metric tonne per unit (dmtu), down by $0.28/dmtu. Mn37% from South Africa was assessed at $4.48/dmtu, down by $0.15/dmtu w-o-w and Mn46% from Australia was at $5.53/dmtu CIF India, down by $0.3/dmtu.
Ferro silicon edges down on bid-offer disparity
Indian ferro silicon prices inched down by INR 725/t ($8/t) w-o-w to INR 98,875/t ($1,150/t) exw-Guwahati. Prices also dropped by INR 400/t ($5/t) in Bhutan to INR 99,200/t ($1,153/t) exw. Prices edged down primarily due to the imbalance between bids and offers.
Ferro molybdenum prices dip w-o-w
Indian ferro molybdenum prices slide by INR 24,500/t ($285/t) w-o-w to INR 2,583,500/t ($30,041/t) exw-India. Prices fell in the global markets, which impacted the Indian ferro molybdenum segment. Meanwhile, on the London Metal Exchange (LME), prices were largely stable, inching down by $0.43/lb w-o-w to $20.7/lb.
Ferro vanadium prices largely stable w-o-w
Indian ferro vanadium (FeV 50%) prices were largely steady w-o-w at INR 1,100,000/t ($12,791/t) exw-Raipur. Prices were stable, due to a cautious market, characterised by need-based purchases amid lacklustre downstream demand.
IEX spot prices rise w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 4.58/unit during the period from 16 March – 22 March, going up from INR 4.17/ unit in the previous week.
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