- Billet prices at four-month low reduce appetite for silico manganese purchases
- No sharp price fall seen in India’s silico manganese market this week
Domestic silico manganese prices remained under pressure week on week amid sluggish downstream trade, as falling steel prices and tight market liquidity prompted buyers to delay bulk purchases in an uncertain market. Smelters largely kept offers within a narrow range, and no sharp correction was seen during the week despite weak sentiment.
As per BigMint’s assessment, domestic silico manganese prices declined across key markets w-o-w as on 19 May 2026, tracking persistent bearish sentiment. In Raipur, prices fell by INR 900/t to INR 75,100/t ex-works ($776/t), while in Vizag prices dropped by INR 1,100/t to INR 74,600/t ($770/t). Durgapur prices dropped by INR 600/t to INR 74,900/t ($774/t) and Raigarh also saw slight corrections, with prices declining by INR 1,100/t INR 74,000/t ($764/t).
Confirmed deals (as per BigMint)
Market overview
Buyer caution and steady producer offers keep domestic prices range-bound: Need-based buying from downstream steelmakers continues to weigh on domestic silico manganese prices, as falling steel prices have reduced procurement appetite. According to a leading Raipur-based smelter, supply pressure has started to ease, which is reflected in the absence of any sharp price correction this week. While some smaller producers with lower-cost inventories are offering material at discounted levels, major producers have largely held their offers steady and avoided aggressive price cuts. As a result, prices are expected to remain broadly stable in the near term, although market sentiment remains cautious and demand visibility is still uncertain.
Sharp correction in billet prices curbs alloy buying interest in domestic: BigMint’s billet index declined sharply by INR 1,050/t d-o-d to INR 39,200/t exw-Raipur on 20 May 2026, its lowest level in four months, reflecting persistent weakness across both semi-finished and finished steel markets. The continued correction has intensified pressure on steelmakers, while cautious procurement and limited billet enquiries indicate subdued downstream demand. The sharp fall in billet prices has also dampened domestic buying interest for silico manganese, as alloy procurement is closely linked to steel production economics. With mills focusing on inventory reduction and cost control, silico manganese demand has softened, exerting additional downward pressure on domestic alloy prices. If billet prices remain weak, manganese alloy purchases are likely to stay restrained in the near term.
Outlook
Domestic silico manganese prices are expected to remain range-bound in the near term, as both domestic and export markets continue to witness limited bulk orders and subdued buying interest.
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