- Limited supply drives offers higher; mixed pricing trends persist
- Steel prices see marginal gains w-o-w, though largely rangebound
Indian domestic silico manganese prices remained flat this week amid tightening supply conditions, which continue to support price. Transportation challenges caused by monsoonal disruptions in key regions have further constrained supply, creating a supply–demand gap. However, this has not negatively impacted the market, as demand remains limited.
According to BigMint’s assessment on 23 September 2025, domestic silico manganese (60-14 grade) prices reflected mixed movement with largely stability across regions. In Raipur, prices stood at INR 69,400/tonne ($782/t) exw, unchanged week-on-week (w-o-w), while Durgapur prices were assessed at INR 69,400/t ($782/t), marking a slight rise of INR 100/t ($1/t). Vizag maintained stability at INR 69,200/t ($780/t), whereas Raigarh saw a marginal decline, with prices slipping by INR 100/t ($1) to INR 68,400/t exw ($771/t).
The premium 60-15 grade remained stable w-o-w, trading between INR 71,100-71,800/t ($801-809/t). Meanwhile, trade volumes in Raipur remained steady at approximately 2,140 t.
Confirmed deal (as per BigMint)
Market recap
Prices are firm on limited availability: A strategic move by sellers in key producing regions has been observed, as they are quoting higher prices amid limited material availability, with major smelters already booked until the first week of October. Immediate delivery offers are being quoted at around INR 70,000-70,300/t exw Raipur, higher than the prevailing market levels, supported by the recent uptick in raw material costs. However, a few traders holding old stocks are offering at lower rates compared with smelters, which has created some disparity in market pricing.
“Demand is not very strong, but for immediate deliveries we don’t have much choice, as smelter offers are higher and supply is limited,” a source informed BigMint.
Steel prices edge higher w-o-w on moderate demand: According to BigMint, billet prices in Raipur inched up by INR 300/t ($5/t) w-o-w to INR 34,100/t exw ($437/t). The marginal gain was supported by moderate spot bookings, although overall activity remained subdued as weak finished steel demand limited enquiries. Buyers largely refrained from bulk procurement, choosing need-based purchases to meet immediate requirements. Subdued downstream sentiment kept billet price movements range-bound, with only minor adjustments in today’s trading. The stability in billet prices has, in turn, lent support to domestic silico manganese prices, helping them remain firm.
Outlook
Domestic silico manganese prices are likely to remain volatile in the near term as monsoonal disruptions continue to hamper transportation, widening the supply–demand gap. However, movements in steel prices will play a decisive role in determining the market trend going forward.
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