- Silico manganese stable as steel prices soften
- Ferro silicon steady on limited market activity
Ferro chrome prices stable post-FACOR’S auction
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices held steady with a slight decline of INR 100/t ($1/t) w-o-w to INR 100,400/t ($1,187/t) exw-Jajpur. The slight drop in prices can be attributed to the decline in bids at Vedanta-FACOR’s ferro chrome auction, which concluded at INR 99,500/t ($1,175/t) exw for the bigger lot of 10-150 mm.
Additionally, China’s Taiyuan Iron and Steel Corporation (TISCO) has increased its ferro chrome tender price for May 2025by RMB 500/t ($69/t) m-o-m to RMB 7,895/t ($1,086/t) DAP, inclusive of taxes.
Silico manganese prices largely stable in weak steel market
Indian silico manganese prices remained largely steady with a slight decline of INR 225/t ($3/t) w-o-w to INR 70,250-70,700/t ($831-834/t) in the key regions of Durgapur, Raipur and Vizag. Steel mills with sufficient inventories have adopted a cautious approach to procurement. This has put pressure on smelters to offer competitive prices to secure deals.
Meanwhile, prices of the 65-16 grade remained stable with a marginal decline of $1/t w-o-w to $931/t FOB Vizag/Haldia, India.
Additionally, MOIL, the state-owned mining enterprise, has revised the prices of manganese ore effectively from 1 May 2025. The company has implemented a 5% reduction in prices for ore grades exceeding Mn 44%, while prices of grades below Mn 44% have been cut by 10%. Additionally, all SMGR grades, including Mn 30% and Mn 25%, have seen a sharper m-o-m decline of 15%.
Ferro manganese prices decline w-o-w
Indian ferro manganese (HC 70%) prices fell by INR 700/t ($8/t) w-o-w to INR 73,000/t ($863/t) exw in Durgapur. Meanwhile, prices, exw-Raipur decreased by INR 800/t ($9/t) to INR 73,200/t ($865/t). Prices fell amid soft demand in the downstream market.
Additionally, HC 75% ferro manganese prices dipped by $9/t w-o-w to $936/t FOB Vizag/Haldia.
Imported manganese ore prices mainly steady w-o-w
Prices of imported manganese ore (Mn 37-46%) wee mostly steady, inching down w-o-w in some grades. Mn44% from Gabon stood at $4.69/dry metric tonne per unit (dmtu), unchanged w-o-w. Mn37% from South Africa was assessed at $3.92/dmtu, down by $0.02/dmtu w-o-w and Mn46% from Australia was at $4.92/dmtu CIF India, down by $0.1/dmtu.
Ferro silicon prices steady post-Bhutan’s price announcements
Indian ferro silicon prices were largely steady with a slight rise of INR 300/t ($4/t) w-o-w to INR 95,300/t ($1,127/t) exw-Guwahati. However, prices in Bhutan dipped by INR 300/t ($4/t) to INR 95,500/t ($1,129/t) exw. Limited market activity was observed, as most sellers were sold out for the month. Additionally, Bhutan announced its prices at INR 95,500/t ($1,129/t) for May 2025.
Ferro molybdenum prices dip w-o-w
Indian ferro molybdenum prices were down by INR 23,000/t ($298/t) w-o-w to INR 2,566,000/t ($30,569/t) exw-India. Prices declined as market showed minimal movements. Meanwhile, the London Metal Exchange (LME), prices remained steady, edging down marginally by $0.1/lb w-o-w to $19.74/lb.
Ferro vanadium prices edge up w-o-w
Indian ferro vanadium (FeV 50%) prices inched up by of INR 6,000/t ($71/t) w-o-w to INR 1,077,000/t ($12,831/t) exw-Raipur. Production remained steady despite high costs, with demand beginning to recover. Increased bidding from steel mills and rising inquiries indicate improving market activity, fostering cautious optimism.
Ferro titanium prices stable w-o-w
Indian ferro titanium (Ti: 70%, 10-50mm) prices remained largely stable w-o-w, going down slightly by INR 5,000/t ($59/t) to INR 345,000/t ($4,076/t) exw-India. Prices held steady with slight variations, and no significant shifts in market sentiments observed.
IEX spot prices decline w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 5.04/unit during the period from 27 April – 3 May, going down from INR 6.07/ unit in the previous week.
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