- Supply constraints and buyer activity shape export prices
- China price moves underpinned by cost base
Indian silico manganese export prices edged up w-o-w as of 9 February, supported by healthy overseas inquiries and slightly firmer alloy demand from key Asian markets. Improved buying interest amid stable raw material costs and limited spot availability encouraged sellers to revise offers upward, resulting in modest gains across major export grades.
BigMint’s assessment on 9 February 2026 reveals silico manganese export prices inched up w-o-w across grades. The 65-16 variant stood at $922/t FOB, up by $9/t w-o-w from $913/t FOB on 02 January, while the 60-14 grade was assessed at $826/t FOB, up by $6/t w-o-w.
Confirmed deals
Market overview
Asian steelmakers show steady buying interest: During the assessment week, Indian exporters reported a visible improvement in inquiries from Asian steelmakers, particularly from Southeast Asia and select Middle Eastern markets. Buyers were mainly seeking prompt shipments to cover near-term alloy requirements, reflecting steady steel production rates in these regions.
A major exporter noted that while volumes were not aggressive, inquiry consistency improved compared with the previous week, lending confidence to sellers. This sustained interest helped create a firmer demand outlook, allowing exporters to test slightly higher offer levels.
Trades totalling around 700 t were concluded for the 60-14 grade, while approximately 650 t of 65-16 material was transacted during the week, reflecting steady export activity and confidence among overseas buyers.
Restricted spot availability limits immediate supply: Spot availability of silico manganese cargoes remained somewhat constrained as producers focused on fulfilling earlier export commitments. Several exporters noted that limited uncommitted material reduced immediate supply options for buyers seeking quick deliveries.
A western India-based exporter mentioned that most production slots were already tied up, especially for the 65-16 grade. This restricted spot liquidity created mild supply-side tightness, contributing to the marginal upward pressure observed in export prices during the week.
Chinese silico manganese prices rise slightly on cost support: Chinese silico manganese prices (Mn 65%, Si 17%) nudged up marginally by around RMB 20/t ($3/t) w-o-w to trade in the RMB 5,720–5,990/t ($824–863/t) ex-works bracket, inclusive of taxes. Market sources said alloy values were underpinned by robust manganese ore pricing and steady coke costs, which together provided a supportive cost base and limited downward pressure on offers.
Outlook
Near term export price momentum is likely to stay modestly positive, underpinned by disciplined offers and tight spot availability, while significant increases will hinge on renewed bulk inquiries from key regions.
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