- Imported ore inches up, smelters limit discounts
- Slight price shifts expected amid rising input costs
Indian silico manganese export prices remained stable this week, following a slight uptrend over the past two weeks. The recent stability could be attributed to easing supply conditions. Meanwhile, producers remained cautious about output, as domestic prices softened slightly amid ongoing market uncertainty.
According to BigMint’s assessments, Indian silico manganese export prices remained stable w-o-w, with the 65-16 grade at $938/tonne (t) FOB and the 60-14 grade at $860/t FOB since the last assessment on 22 July, amid cautious buying. Export trade volumes fell to 1,300 t this week from 2,200 t in the previous, indicating a dip in demand amid firm prices.
Market recap
Supply improves, export price rally pauses: The recent easing of supply curbed further price increases in the Indian silico manganese export market. Smelters in export-focused regions such as Durgapur and Vizag resumed operations after planned maintenance shutdowns, which initially aimed to minimise losses during a weak market phase.
With export inquiries gradually picking up, producers aligned their output with market momentum, helping to stabilise prices. However, the return of supply balanced the earlier tightness in the market, slowing the pace of price growth.
A key smelter stated that silico manganese prices are expected to remain stable in the near term, with no further downside likely. The recent increase in imported manganese ore prices has narrowed the scope for additional discounts.
Meanwhile, moderate export inquiries continued to support market sentiment. Some bulk inquiries of 2,000-3,000 t in recent days raised hopes of further price support in the near term.
Rising Mn ore import prices support SiMn tags: Imported manganese ore prices in India saw a slight w-o-w increase, though market sentiment remained cautious. The uptick in ore prices raised silico manganese production costs, helping stabilise export offers within a certain range.
Prices of Australian high-grade (46% Mn) ore rose slightly by $0.09/dry metric tonne unit (dmtu) w-o-w to around $4.69/dmtu. Prices of Gabonese high-grade (44% Mn) inched up by $0.08/dmtu w-o-w to $4.38/dmtu. Prices of South African lumps (37% Mn) rose $0.09/dmtu w-o-w to $4.14/dmtu, a one-month high.
Outlook
Silico manganese export prices may see slight variations amid rising imported ore costs. Moreover, increased export inquiries and favourable demand conditions are expected to play a key role in supporting prices in the near term.
Additionally, South32 has raised its September 2025 offers, with South African 37% manganese ore priced at $4.05/dmtu (up $0.15/dmtu) and Australian 42% ore at $4.45/dmtu (up $0.10/dmtu), citing stronger Chinese silico manganese prices and renewed optimism in the steel market. This might support a potential price uptrend in the Indian market.
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