- Tepid demand sparks off price war across regions
- Buyers gain upper hand amid ample inventories
India’s silico manganese prices edged down w-o-w. This decline was primarily driven by increased selling pressure amid limited trade activity, which led to competitive pricing.
Domestic prices of 60-14 grade silico manganese declined by INR 430/tonne (t) exw ($5/t), according to BigMint’s assessment on 10 June 2025. Price tags across key regions hovered within INR 71,000-71,600/t ($825-843/t).
The premium 60-15 grade remained stable w-o-w at around INR 73,000-73,800/t ($840-$848/t), declining by INR 1,000/t from last week. Deals for around 2,000 t of the 60-14 grade were concluded in Raipur, dropping by 900 t from last week, during 4-10 June 2025.
Confirmed deals (as per BigMint)
Market overview
Subdued demand sets off price war: Competitive pricing from Raigarh and Durgapur, with tags ranging between INR 70,500-71,500/t exw, intensified pressure on domestic silico manganese producers. Smelters in Raipur and Vizag, which were initially reluctant to cut prices, were forced to reconsider due to sluggish demand from steel mills. The result: a challenging market landscape marked by price undercutting and cautious buying.
Buyers take lead as domestic prices soften: Steel mills, sitting on comfortable inventories, slowed down procurement, shifting the bargaining power firmly in their favour. This compelled smelters in Durgapur and Raipur to slash prices to INR 70,500-71,500/t exw to stay competitive. With limited buying activity and rising competition, smelters faced mounting pressure to quote even more attractive offers to secure orders.
Outlook
In the short term, domestic silico manganese prices are expected to remain under pressure due to subdued demand in both the domestic and export markets. Adding to the strain, Eramet Comilog, a key manganese ore supplier from Gabon, has reduced its July 2025 shipment prices by $0.15/dmtu, setting Mn44.5% lumps at $4.25/dmtu and Mn43% at $4.05/dmtu (CIF China). This decline in ore prices could further weigh on high-grade silico manganese pricing, tightening margins for producers.
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