- Silico manganese faces dull demand headwinds
- Ferro silicon prices slide on weak bookings
Ferro chrome market steady, awaits OMC auction outcome
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices were largely stable, inching up by INR 200/t ($2/t) w-o-w, reaching INR 101,000/t ($1,171/t) ex-works Jajpur. Prices remained firm amid stagnant market conditions, as buyer resistance and weak stainless steel demand capped gains, while elevated chrome ore costs offered crucial support against downward pressure.
Additionally, Vedanta-FACOR’s ferro chrome auction closed at INR 100,400–100,600/t ($1,164–1,166/t) ex-works for 10-150 mm material, indicating price stability in its run-up. Market direction remains uncertain, with clearer trends expected following OMC’s chrome ore auction next week.
Silico manganese weakens on selling pressure
Indian silico manganese prices (60-14) witnessed a slight decline of INR 450/t ($5/t) w-o-w to INR 70,900-71,300/t ($822-827/t) in the key regions of Durgapur, Raipur and Vizag. The price drop stemmed mainly from intensified selling pressure and muted trade volumes, compelling sellers to lower offers to remain competitive. Additionally, BigMint’s steel billet index stood at INR 38,400/t ($445/t) exw-Raipur in June, marking a nine-month low.
However, export prices of the 65-16 grade slid up by $4/t w-o-w to $917/t FOB Vizag/Haldia, India.
Ferro manganese prices rise slightly on tight supply
Indian ferro manganese (HC 70%) prices witnessed a slight rise of INR 200/t ($2/t) w-o-w to INR 72,300/t ($828/t) exw in Durgapur. However, prices, exw-Raipur, stayed static at INR 72,250/t ($838/t). The slight rise in ferro manganese prices was primarily due to tight supply conditions restricting availability, leading to upward pressure on prices despite steady demand.
Additionally, HC 75% ferro manganese prices dipped by $12/t w-o-w to $915/t FOB Vizag/Haldia.
Imported manganese ore prices edge up w-o-w
Prices of imported manganese ore (Mn 37-46%) showed slight rise w-o-w across all grades. Mn44% from Gabon stood at $4.37/dry metric tonne unit (dmtu), up by $0.01/dmtu w-o-w, Mn37% from South Africa was assessed at $3.95/dmtu, up by $0.02/dmtu w-o-w, and Mn46% from Australia was at $4.68/dmtu CIF India, up by $0.01/dmtu.
However, Eramet Comilog has reduced its July manganese ore shipment prices by $0.15/dmtu m-o-m to $4.25/dmtu (Mn44.5%) and $4.05/dmtu (Mn43%) CIF China, citing weaker alloy demand and rising inventories across major markets.
Ferro silicon slips as market adjusts to Bhutan’s June offers
Indian ferro silicon prices slide by INR 1,600/t ($19/t) w-o-w, settling at INR 90,400/t ($1,048/t) ex-works Guwahati. Concurrently, Bhutanese prices also softened by INR 1,100/t ($13/t) to INR 90,900/t ($1,054/t) ex-works. Bulk bookings remained limited due to cautious buyer sentiment and subdued demand, leading to reduced market activity and downward pressure on ferro silicon prices.
Ferro molybdenum prices maintain poise amid end-user stability
Indian ferro molybdenum prices experienced a slight decline of INR 5,000/t ($58/t) w-o-w, reaching INR 2,650,000/t ($30,723/t) ex-works. This minor adjustment was tempered by consistent demand from the stainless steel sector and stable global market conditions. On the London Metal Exchange, prices remained resilient, rising modestly by $0.34/lb w-o-w to $21.95/lb, indicating steady market equilibrium.
Ferro vanadium prices stable amid stagnant dynamics
Indian ferro vanadium (FeV 50%) prices remained stable w-o-w at INR 1,095,700/t ($12,703/t) ex-Raipur, supported by consistent demand from the stainless and special steel sectors. Limited spot trading, sufficient inventories, and steady procurement patterns kept the market balanced, while participants remained watchful of global trends and policy developments.
Ferro titanium prices hold steady amid tepid demand
Indian ferro titanium (Ti: 70%, 10–50 mm) prices remained unchanged w-o-w at INR 335,000/t ($3,884/t) ex-works India. The market continued to grapple with subdued end-user demand, which kept overall sentiment bearish. Trading volumes were notably thin, and the absence of fresh inquiries led to a lack of price volatility throughout the week.
IEX spot prices soar w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 5.19/unit during 8-14 June, up from INR 3.68/unit in the previous week.
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