- Silico manganese prices hit 3-month low
- Ferro silicon maintains stability w-o-w
Ferro chrome prices firm on limited inquiries
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices held steady w-o-w at INR 100,400/t ($1,176/t) exw-Jajpur. Price fluctuations were minimal, as demand was limited in the domestic market. Additionally, bid-offer disparities continued, as buyers showed limited acceptance of higher offers from suppliers.
Silico manganese prices dip w-o-w
Indian silico manganese prices decreased by INR 425/t ($5/t) w-o-w to INR 69,800-70,300/t ($817-823/t) in the key regions of Durgapur, Raipur and Vizag. The downward trend was driven by weak demand, limited export activity, and adequate supply in the market. Buyers largely showed limited interest amid an uncertain steel sector outlook.
Meanwhile, prices of the 65-16 grade were unchanged w-o-w at $931/t FOB Vizag/Haldia, India. Additionally, domestic silico manganese prices touched a three-month low this week, with the 60-14 grade registering a total drop of INR 2,600/t ($31/t) since around mid-February.
Ferro manganese prices fall w-o-w
Indian ferro manganese (HC 70%) prices fell by INR 1,000/t ($12/t) w-o-w to INR 72,000/t ($843/t) exw in Durgapur. Meanwhile, prices, exw-Raipur decreased by INR 900/t ($11/t) to INR 72,300/t ($846/t). The market showed resistance in accepting higher quotes due to which prices fell down and slow demand for steel also impacted prices.
Additionally, HC 75% ferro manganese prices remained unchanged w-o-w to $936/t FOB Vizag/Haldia.
Imported manganese ore prices dip w-o-w
Prices of imported manganese ore (Mn 37-46%) inched down w-o-w for all grades. Mn44% from Gabon stood at $4.58/dry metric tonne per unit (dmtu), down by $0.02/dmtu w-o-w. Mn37% from South Africa was assessed at $3.89/dmtu, down by $0.03/dmtu w-o-w and Mn46% from Australia was at $4.9/dmtu CIF India, down by $0.02/dmtu.
Additionally, South32, a prominent global mining company, has announced a price cut for its 37% grade South African semi-carbonated manganese ore lumps for June shipments. Prices have been reduced by $0.25/dmtu m-o-m to $3.80/dmtu CIF China.
Ferro silicon prices stable
Indian ferro silicon prices were largely steady with a slight decline of INR 200/t ($2/t) w-o-w to settle at INR 95,100/t ($1,113/t) exw-Guwahati. Meanwhile, prices in Bhutan dipped by INR 200/t ($2/t) to INR 95,300/t ($1,116/t) exw. Prices stayed stable as the majority of sellers both in north east India and Bhutan adapted to the newly announced offers of INR 95,500/t ($1,118/t) exw.
Ferro molybdenum prices inch down
Indian ferro molybdenum prices edged down by INR 25,000/t ($293/t) w-o-w to INR 2,541,000/t ($29,745/t) exw-India. Prices dipped amid lack of any significant market movement. Meanwhile, on the London Metal Exchange (LME) platform, prices were firm too, rising slightly by $0.27/lb w-o-w to $20.01/lb.
Ferro vanadium prices remain largely stable w-o-w
Indian ferro vanadium (FeV 50%) prices saw a marginal drop of INR 4,000/t ($47/t) to INR 1,073,000/t ($12,561/t) w-o-w ex-Raipur. Market sentiment remained subdued due to limited trade, with most special steel manufacturers holding sufficient inventory and making only need-based purchases.
Ferro titanium prices steady w-o-w
Indian ferro titanium (Ti: 70%, 10-50 mm) prices remained largely stable w-o-w, inching up by INR 5,000/t ($58/t) to INR 350,000/t ($4,094/t) exw. Prices showed stability, with only marginal shifts, and overall market sentiment remained neutral.
IEX spot prices continue to decline w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 4.03/unit during the period from 4-10 May, going down from INR 5.04/ unit in the previous week.
Trade
Leave a Reply