- Silico manganese prices climb up to 1-month high
- Jupiter rolls over manganese ore prices for Jun’25
Indian ferro alloys prices showed divergent trends this week. In particular, prices of manganese alloys increased w-o-w, with silico manganese hitting a one-month high.
Ferro chrome remains steady post OMC’s auction
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices remained largely steady with a slight decline of INR 100/tonne (t) ($1/t) w-o-w at INR 100,300/t ($1,174/t) exw-Jajpur. Prices held steady w-o-w, as market participants paused activity following the conclusion of OMC’s chrome ore auction.
At OMC’s chrome ore auction on 19 May, 62,200 t were sold out of the 93,100 t offered. Bids for grades above 48% surged by 3-50% (INR 633-11,324/t) m-o-m, while other grades saw a slight increase of up to 3%. Premiums over the base prices reached up to 51%.
Additionally, at Vedanta-FACOR’s ferro chrome auction yesterday, the bigger lot of 10-150 mm achieved an H1 tag of INR 100,300/t exw, above the base price of INR 99,500/t. Compared to the previous 28 April 2025 auction, prices saw a slight uptick of INR 800/t m-o-m.
Silico manganese hits 1-month high on tight supplies
Indian silico manganese prices jumped by INR 1,100/t ($13/t) w-o-w to INR 71,100-72,200/t ($832-845/t) in the key regions of Durgapur, Raipur and Vizag. The price rise was fuelled by constrained supply, which led buyers to secure material quickly, often agreeing to pay higher rates to ensure timely procurement.
Meanwhile, export prices of the 65-16 grade were largely stable, inching up by $2/t w-o-w to $932/t FOB Vizag/Haldia, India, amid limited inquiries.
Ferro manganese prices move up on limited supplies
Indian ferro manganese (HC 70%) prices rose by INR 400/t ($5/t) w-o-w to INR 72,300/t ($846/t) exw in Durgapur. Meanwhile, prices, exw-Raipur, inched up by INR 50/t ($1/t) to INR 72,300/t ($846/t). Prices climbed up due to supply shortages and production cuts.
Additionally, HC 75% ferro manganese prices rose by $5/t w-o-w to $935/t FOB Vizag/Haldia.
Imported manganese ore edges down
Prices of imported manganese ore (Mn 37-46%) inched down w-o-w across all grades. Mn44% from Gabon stood at $4.49/dry metric tonne unit (dmtu), down by $0.02/dmtu w-o-w. However, Mn37% from South Africa was assessed at $4.02/dmtu, up by $0.11/dmtu w-o-w, and Mn46% from Australia was at $4.80/dmtu CIF India, down by $0.03/dmtu.
Additionally, Jupiter Mines Limited, operator of the Tshipi Borwa Manganese Mine in the Kalahari manganese field in South Africa, set offers for June shipments of its high-grade Mn36.5% semi-carbonate lumps at $3.85/dmtu CIF China, unchanged m-o-m.
Ferro silicon under pressure from rising imports
Indian ferro silicon prices declined by INR 600/t ($7/t) w-o-w to INR 94,100/t ($1,101/t) exw-Guwahati. Meanwhile, prices in Bhutan stood at INR 95,000/t ($1,112/t) exw, down by INR 300/t ($4/t). Demand was limited, attributed to a surge in imports recently. In April, imports rose 15% m-o-m to 20,716 t against 17,971 t in March. Prices are expected to remain steady in the short term, but a minor correction remains a possible too.
Ferro molybdenum increases on rise in raw material costs
Indian ferro molybdenum prices increased by INR 40,500/t ($474/t) w-o-w to INR 2,548,500/t ($29,830/t) exw. Strong steel mill demand in China boosted inquiries, driving prices up significantly. Meanwhile, Prices edged up on the London Metal Exchange (LME) platform as well, inching up slightly by $0.55/lb w-o-w.
Ferro vanadium dips amid muted demand, ample stocks
Indian ferro vanadium (FeV 50%) prices dipped by INR 9,400/t ($110/t) w-o-w to INR 1,069,000/t ($12,486/t) ex-Raipur. The drop was driven by ample inventories with smelters and muted demand from special steel manufacturers.
Ferro titanium declines amid trades at lower levels
Indian ferro titanium (Ti: 70%, 10-50 mm) prices declined by INR 2,500/t ($29/t) w-o-w to INR 347,500/t ($4,060/t) exw. Market conditions were stable, with steady supply-demand dynamics. However, prices witnessed a slight downtrend after remaining stable for the past couple of weeks, primarily driven by trading activity at lower levels.
IEX spot prices decline w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 4.13/unit during 18-24 May, down from INR 5.35/unit in the previous week.
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