- Limited buying keeps trade activity selective
- Producers resist discounts despite cautious demand
Indian medium-carbon silico manganese prices rose by INR 800/t ($8/t) to INR 88,500/t ($920/t) ex-works Durgapur on 30 July. Offers were heard at INR 86,800-88,700/t ($902-922/t), with a 210 t transaction getting concluded at INR 89,000/t ($925/t).
Prices rose this week as limited spot availability and producers’ firm offers outweighed sluggish downstream demand, with buyers securing small volumes at higher prices to meet immediate requirements.
Factors affecting prices
Limited spot availability supports prices: Despite subdued sentiment across the broader manganese alloy market, medium-carbon silico manganese availability remained constrained as only a few producers actively offered material. Manufacturers resisted lowering offers, citing limited inventories, higher production costs, and the niche nature of the product. Consequently, buyers with urgent requirements accepted higher prices for limited quantities.
Firm offers offset subdued buying interest: Although buying activity remained cautious amid weakness in the broader manganese alloy market, limited spot availability and firm producer offers kept medium-carbon silico manganese prices supported. Most transactions were driven by buyers with immediate requirements, while bulk purchases remained limited due to cautious market sentiment.
A seller told BigMint, “Demand is not very strong, but we are not willing to reduce offers as spot availability is limited and production costs remain firm. Buyers with urgent requirements are still accepting higher prices, while the rest are waiting for the market to soften.”
Outlook
Medium-carbon silico manganese prices are expected to remain firm, supported by limited availability, although weak steel demand may restrict further gains.
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