- Export disruptions trigger domestic oversupply
- Falling billet prices pressure domestic market
Domestic silico manganese prices witnessed a slight correction this week as oversupply pressures emerged in the local market amid subdued export inquiries. With overseas bookings remaining limited, several producers redirected export-bound material to the domestic market, increasing spot availability and intensifying competitive selling pressure. The sudden supply influx triggered panic selling among traders and suppliers, resulting in a mild downward adjustment in prices across key trading hubs.
As per BigMint’s assessment on 14 April 2026, domestic silico manganese (60-14) prices witnessed a sharp correction across key markets compared to 7 April 2026 amid weakening market sentiment. In Raipur, prices fell by INR 5,000/t to INR 84,800/t exw ($907/t), while Durgapur declined by INR 4,500/t to INR 84,500/t ($905/t). Vizag also corrected by INR 3,900/t to INR 84,600/t ($906/t), and Raigarh prices dropped by INR 3,800/t to INR 83,800/t ($897/t).
Confirmed deals (as per BigMint)
Market overview
Weak demand drags export prices lower: Indian silico manganese export prices declined in the week ended 13 April 2026 amid weak overseas demand, despite rising imported manganese ore prices increasing cost pressure on smelters. Port supply constraints and container shortages at key exporting hubs further tightened ore availability, pushing input costs higher. As per BigMint’s assessment, 65-16 grade fell by $40/t w-o-w to $971/t FOB, while 60-14 grade declined by $14/t to $921/t FOB. Slowdown in export bookings has resulted in smelters diverting those volumes in domestic market weighing on prices.
Export slowdown fuels local surplus: The domestic silico manganese market is facing a widening supply-demand gap as weak export activity has led to surplus material accumulation in the local market. India, which exports nearly 35-40% of its silico manganese output, has witnessed a sharp slowdown in overseas bookings from key destinations such as MENA, Europe, and Far East markets amid persistent geopolitical tensions and global currency volatility. Freight rates to MENA/GCC have nearly doubled in recent weeks, and reduced insurance coverage on vessels have significantly raised landed costs for buyers. Additionally, ongoing container shortages and vessel disruptions have curtailed shipment movement, forcing exporters to divert material domestically and intensifying supply pressure in the local market.
Steel correction drags silico prices lower w-o-w: BigMint’s billet index in Raipur declined sharply by INR 600/t w-o-w to INR 42,300/t ex-works on 15 April, as weak market sentiment and limited enquiries continued to weigh on the semi-finished steel segment. Despite notable corrections in spot offers, buying interest remained subdued, forcing sellers to lower prices aggressively amid persistent lower bids and bearish cues from neighbouring markets. Spot activity remained largely restricted to urgent, need-based transactions, with only limited deals concluded at discounted levels as participants stayed cautious amid prevailing uncertainty. Market participants noted that continued weakness in downstream finished steel demand remains the key factor behind the ongoing billet correction, which in turn has exerted slight downward pressure on silico manganese prices due to softer procurement from steelmakers.
Outlook
Domestic silico manganese prices are likely to remain range-bound in the near term amid surplus supply and weak steel demand, though elevated ore costs may restrict sharper downside.
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