- SiMn prices rise on lower production
- Ferro silicon tags fall to 9-month low
The Indian ferro alloys market witnessed divergent price trends amid fluctuations in demand dynamics, supply conditions, and raw material costs. While silico manganese prices were able to climb up on the back of production cuts, ferro manganese fell amid slack export demand. Ferro silicon also plunged sharply amid steadily increasing imports.
Ferro chrome prices stable w-o-w amid OMC auction
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices were largely stable, inching down by INR 400/tonne (t) ($5/t) w-o-w to INR 100,400/t ($1,160/t) exw-Jajpur. The stability could be attributed to regular trading activity combined with the moderate response observed in the Odisha Mining Corporation (OMC) auction. OMC’s chrome ore auction saw subdued interest, with 50,500 t sold out of 76,000 t, while bids for Cr2O3 >48% grades dropped by 21-32% m-o-m.
Additionally, OMC will conduct another e-auction on 25 June for 6,900 t of ferro chrome across various grades and sizes (Cr: 50-64%, 0-100 mm).
Silico manganese prices edge up amid production cuts
Indian silico manganese prices (60-14) witnessed a rise of INR 600/t ($7/t) w-o-w to INR 71,300-72,100/t ($823-833/t) in the key regions of Durgapur, Raipur, and Vizag. Key smelters started tackling the supply surplus by strategically cutting production, leading to a price recovery in select regions. Meanwhile, export prices of the 65-16 grade inched up by $4/t w-o-w to $921/t FOB Vizag/Haldia, India.
Additionally, SMIORE’s manganese ore auction on 20 June 2025 witnessed a stronger response, with 56% of the material sold and bids showing a slight increase compared to the 5 June auction.
Ferro manganese prices slide on declining export demand
Indian ferro manganese (HC 70%) prices fell by INR 700/t ($8/t) w-o-w to INR 71,600/t ($827/t) exw in Durgapur. Meanwhile, prices, exw-Raipur, also decreased to INR 71,900/t ($830/t). Prices declined due to weakening export demand, as overseas buyers reduced inquiries amid sluggish global steel market activity.
Additionally, HC 75% ferro manganese prices dipped by $12/t w-o-w to $903/t FOB Vizag/Haldia.
Imported manganese ore prices reflect mixed movements w-o-w
Prices of imported manganese ore (Mn 37-46%) showed contrasting trends w-o-w across all grades. Mn44% from Gabon stood at $4.36/dry metric tonne unit (dmtu), down by $0.01/dmtu w-o-w, Mn37% from South Africa was assessed at $3.98/dmtu, up by $0.03/dmtu w-o-w, and Mn46% from Australia was at $4.67/dmtu CIF India, down by $0.01/dmtu.
Ferro silicon prices in India fall to 9-month low amid rising imports
Indian ferro silicon prices dropped by INR 1,600/t ($18/t) w-o-w to INR 88,800/t ($1,026/t) exw-Guwahati. Concurrently, Bhutanese prices also decreased by INR 2,500/t ($29/t) to INR 88,400/t ($1,021/t) exw. Prices dropped to their lowest levels since September 2024, weighed down by weak demand, as end-users increasingly opted for imported silicon metal over ferro silicon, curbing domestic buying interest.
Ferro molybdenum prices increase on rising LME prices
Indian ferro molybdenum prices rose by INR 24,000/t ($277/t) w-o-w to INR 2,674,000/t ($30,884/t) exw. The price hike was primarily driven by a continued uptrend in London Metal Exchange (LME) futures, which serve as a key benchmark for global ferro molybdenum pricing. On 10 June, LME prices peaked at $21.95/lb, the highest level since November last year, before settling slightly lower at $21.81/lb in the latest update.
Ferro vanadium market remains stable in India despite low buying
Indian ferro vanadium (FeV 50%) prices remained largely stable this week, with a slight uptick of INR 4,300/t ($50/t) to INR 1,100,000/t ($12,697/t) ex-Raipur. Despite subdued end-user demand, sellers held their offers steady. With demand from the stainless and special steel sectors unchanged, the market saw minimal activity and continued price stability.
Cost pressure, supply issues boost Indian ferro titanium prices
Indian ferro titanium (Ti: 70%, 10-50 mm) prices rose by INR 35,000/t ($404/t) w-o-w to INR 370,000/t ($4,271/t) exw. The increase is attributed to higher raw material costs, particularly titanium ore and scrap. Market participants also pointed to reduced imports, which tightened supply and prompted sellers to raise their offers.
IEX spot prices decline w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 3.54/unit during 15-21 June, dropping from INR 5.19/unit in the previous week.
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