- Routine trades keep FeCr prices firm
- Silico manganese rises to 4-month high
Indian ferro alloy prices continued to see mixed trends this week. While ferro molybdenum prices hit a one-year high, silicon manganese tags touched a four-month peak. Prices of other commodities were either stable or declined.
Stable market conditions keep ferro chrome prices unchanged in India
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices were flat w-o-w at INR 99,500/t ($1,159/t) exw-Jajpur. Market conditions stayed balanced, with no sharp fluctuations, and consistent trading activity kept ferro alloy prices steady through the week.
Silico manganese prices reach 4-month high on supply constraints
Indian silico manganese prices (60-14) rose by INR 600/t ($7/t) w-o-w to a 4-month high of INR 72,600-73,500/t ($846-856/t) in the key regions of Durgapur, Raipur, and Vizag. Rising silico manganese prices in India reflected tight supply conditions and a steady pick-up in steel sector demand, contributing to ongoing bullish sentiment.
Meanwhile, export prices of the 65-16 grade inched up by $3/t w-o-w to $931/t FOB Vizag/Haldia, India.
Ferro manganese prices remain firm on market cautiousness
Indian ferro manganese (HC 70%) prices remained unchanged w-o-w at INR 71,900/t ($837/t) exw in Durgapur. Meanwhile, prices, exw-Raipur, also remained flat at INR 72,200/t ($841/t). Market cautiousness kept Indian ferro manganese prices steady despite stable supply and demand.
Additionally, HC 75% ferro manganese prices edged down by $5/t w-o-w to $918/t FOB Vizag/Haldia.
Imported manganese ore prices maintain stability w-o-w
Prices of imported manganese ore (Mn 37-46%) remained mostly stable w-o-w across all grades. Mn44% from Gabon stood at $4.30/dry metric tonne unit (dmtu), unchanged; Mn37% from South Africa was assessed at $4.03/dmtu, up by $0.02/dmtu; and Mn46% from Australia was at $4.65/dmtu CIF India, unaltered w-o-w.
Additionally, Eramet Comilog priced its Mn44.5% and Mn43% lumps at $4.2/dmtu and $4/dmtu CIF China for August shipments, down $0.05/dmtu m-o-m. However, Jupiter Mines increased its August Mn36.5% semi-carbonate lumps offer by $0.05/dmtu m-o-m to $3.9/dmtu.
Market competitiveness keeps ferro silicon prices at lower levels
Indian ferro silicon prices dipped by INR 200/t ($2/t) w-o-w to INR 86,800/t ($1,011/t) exw-Guwahati. Meanwhile, Bhutanese prices decreased by INR 500/t ($6/t) to INR 87,000/t ($1,013/t) exw. Due to increasing imports of ferro silicon and silicon metal, sellers in Bhutan and northeast India reduced their prices to remain competitive in the market.
Indian ferro molybdenum prices hit 1-year high on tight supply
Indian ferro molybdenum prices increased by INR 80,000/t ($932/t) w-o-w to INR 2,810,000/t ($32,729/t) exw. Prices reached their highest levels since July last year amid a shortage of molybdenum oxide in the domestic market. On the London Metal Exchange (LME) platform, prices were largely steady, inching up by $0.4/lb w-o-w to $22.22/lb.
Ferro vanadium prices in India decline as demand softens
Indian ferro vanadium (FeV 50%) prices fell by INR 10,000/t ($116/t) w-o-w to INR 1,083,000/t ($12,614/t) ex-Raipur, as sluggish demand from the special steels sector outweighed minor supply constraints from monsoon delays. Buyer caution and high inventories persisted.
Ferro titanium prices drop despite market stability
Ferro titanium (Ti: 70%, 10-50 mm) prices eased marginally by INR 1,600/t ($19/t) w-o-w to INR 340,000/t ($3,960/t) ex-works India. However, market activity remained stable, with balanced supply-demand dynamics, though at moderate levels.
IEX spot prices rise w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 4.3/unit during 6-12 July, up from INR 3.33/unit in the previous week.
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