- Soft ore prices limit alloy market confidence
- Muted demand continues to cap trading activity
Indian medium-carbon silico manganese prices inched down by INR 300/t ($3/t) w-o-w to INR 87,500/t ($909/t) ex-works Durgapur on 16 July. Offers this week were heard in the range of INR 87,000-88,300/t ($904-$917/t). Trading remained subdued as buyers resisted higher offers, prompting limited market activity.
Factors affecting prices
Sellers hold firm despite muted buying interest: Sellers largely stayed on the sidelines after buyers showed little willingness to accept higher quotations. Most suppliers preferred to maintain offer levels rather than conclude deals at lower prices, anticipating improved demand. However, cautious procurement and limited spot enquiries kept transactions sparse, resulting in subdued trading activity throughout the week.
Imported manganese ore prices soften on weak demand: Imported manganese ore prices edged down, pressured by weaker alloy prices and subdued demand in both domestic and export markets. Soft alloy demand kept smelters reliant on existing inventories, while lower August offers from major Gabonese miner Eramet further weighed on seaborne ore prices and market sentiment.
- Australian high-grade ore (Mn 46%)inched down by $0.15/dmtu w-o-w to $5.45/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (Mn 44%)decreased $0.13/dmtu w-o-w to $5.17/dmtu CNF Haldia/Vizag.
- South African lumps (Mn 37%)were down by $0.4/dmtu w-o-w to $4.61/dmtu CNF Haldia/Vizag.
Outlook
Prices are expected to remain broadly stable, with buyer participation, imported manganese ore trends, and alloy demand continuing to influence market direction.
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