- Weak overseas demand deepens export pressure
- Oversupply concerns continue hurting sentiment
Indian silico manganese export prices continued their downward trajectory in the week ended 25 May 2026, weighed down by aggressive discounted offers and subdued overseas buying interest. Export prices for 65-16 grade declined by $22/t w-o-w to $883/t FOB, while 60-14 grade prices fell by $20/t to $798/t FOB amid persistent demand weakness and competitive market pressures.
Prices continued to slide this week as overseas buyers restricted purchases to immediate requirements, forcing exporters to accept lower-priced deals amid weak global steel demand and oversupply concerns. Intense competition from alternative suppliers and mounting inventory pressure further eroded sellers’ bargaining power.
Market overview
Need-based buying and oversupply drag export prices lower: Export sentiment remained weak as buyers from key markets stayed cautious and avoided bulk bookings amid uncertain steel sector demand. At the same time, surplus availability in the Indian market and aggressive low-priced offers intensified competition among exporters. Producers facing cash-flow pressure continued to liquidate material at discounted levels to sustain operations, while soft inquiries from Asia and the Middle East kept overall trading activity sluggish and prevented any near-term price recovery.
China’s silico manganese continue to edge down: Chinese silico manganese prices (Mn 65%, Si 17%) edged down w-o-w by RMB 50/t ($7/t) to RMB 5,630-5,970/t ($830-880/t) exw. The market maintained a weak but relatively resilient trend, as tightening supply from production restrictions and maintenance shutdowns offset subdued downstream demand. While steel mills continued cautious procurement, reduced spot availability prevented any major price decline.
Prices remained under pressure as lower June manganese ore offers and weak steel sector demand dampened market sentiment. Steel mills continued cautious procurement and pushed for lower prices due to poor margins. Meanwhile, rising electricity costs and prolonged losses forced several producers to reduce operations or enter maintenance, tightening spot supply and preventing any sharp decline in prices despite sluggish trading activity.
Outlook
Silico manganese prices are expected to remain under pressure in the near term amid cautious steel demand, oversupply concerns, and weak export inquiries, although production curbs may help limit sharper declines.
Leave a Reply