- Stable demand supports Indian export price levels
- Balanced supply keeps market conditions steady
India’s silico manganese export market remained stable this week, supported by consistent trade flows and limited competitive pressure.
As per BigMint’s latest assessment, export prices of the 65-16 grade edged up by $4/t w-o-w to $920/t FOB. However, the 60-14 variant remained unchanged w-o-w to $820/t FOB.
Consistent export demand from key markets: India’s silico manganese export market held steady due to sustained demand from regular buyers, particularly in Southeast Asia, the Gulf, and parts of Europe. These regions continue to prefer Indian material for its reliable quality and timely delivery.
A smelter from Raipur noted, “Our long-term buyers have continued placing orders at existing price levels. There’s no panic buying, but no major drop either. It’s a healthy, consistent flow that kept the market stable.”
Material supply at ports and plants remain balanced: Material supply at major silico manganese production hubs and ports have remained balanced in recent weeks. Neither surplus nor shortage has been observed, keeping supply aligned with demand. This equilibrium has prevented any urgent price correction. Producers are managing stock levels effectively, ensuring that export obligations are met without flooding the market. Balanced inventories contribute significantly to price stability, as they limit the need for aggressive selling or sudden price hikes.
One of the key exporters from Vizag informed BigMint that despite limited competition in the overseas market, acceptance of high-priced material remained restricted. The stability in the weekly ore index has also contributed to this limited acceptance. The exporter further mentioned that market rumors were circulating regarding a potential export tax on manganese ore from South Africa-similar to the 25% tax proposed on chrome ore exports from South African ports. However, he noted that such a measure, if implemented, is unlikely to provide significant benefits to South African manganese alloy producers.
Outlook
Silico manganese export prices may witness a potential uptrend; however, limited acceptance of higher-priced material could keep the market rangebound in the near term. Any recovery in overseas demand could lend support to prices, although prevailing global uncertainties and weak steel fundamentals are likely to cap significant upside potential.
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