- Global uncertainty keeps export prices range-bound
- Inventory levels influence buyer behaviour, pricing
Indian silico manganese export prices remained largely stable w-o-w, amid a lull in fresh inquiries. While the 65-16 grade witnessed a marginal uptick, the 60-14 grade experienced slight price corrections, as buyers continued to adopt a wait-and-watch approach.
The stability in Indian silico manganese export prices is attributed to weak overseas demand and limited spot trading. Buyers are holding back amid uncertain market outlook and sufficient inventories, leading to minimal price movement despite slight grade-specific fluctuations driven by isolated deals and supply dynamics.
According to BigMint’s latest assessment, Indian silico manganese export prices showed mixed movement, with the 65-16 grade rising by $6/t to $936/t FOB, while the 60-14 grade declined by $3/t, settling at $852/t FOB since the previous evaluation on 4 August.
Market review
Regional disparities in export demand: The price fluctuations could stem from varying regional demand dynamics. Exporters catering to Southeast Asian markets may still be seeing stable orders for high-grade 65-16 material, supporting its marginal price rise. In contrast, demand from the Middle East or African regions for 60-14 grade might have softened due to currency volatility or cheaper local alternatives, weighing on prices. Such region-specific shifts can distort broader price trends and add to market ambiguity.
Inventory pile-up in traditional markets: Key importing nations such as Bangladesh and the UAE are reportedly sitting on sufficient inventories, having built up stocks earlier this year amid freight volatility. With no immediate need for fresh procurement, buyers in these regions are largely inactive, negotiating harder on prices or delaying purchases altogether. This lack of urgency is creating downward pressure in some export channels, while isolated demand from more active regions keeps prices steady elsewhere.
Varying demand recovery across key importing regions: Importing countries are showing uneven demand recovery. Southeast Asian buyers, especially from countries like Vietnam and Indonesia, are gradually resuming purchases as steel production picks up post-monsoon maintenance. This is lending some support to Indian export prices. On the other hand, buyers from the Middle East and parts of Africa remain cautious due to ongoing construction slowdowns and currency depreciation, resulting in subdued inquiries and downward pressure on pricing.
Outlook
Indian silico manganese exports are expected to remain stable in the near term as uneven regional demand and cautious buying amid global uncertainties limit significant price movements in the near term.
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