- Lower-priced domestic deals intensify pressure on sellers
- High freights weigh on exports, reduce India’s competitiveness
Domestic silico manganese prices edged lower in the assessment week ended 11 August 2026 as market participants remained divided on price direction. Sellers drew support from firm bookings by key producers and limited spot availability, while buyers stayed cautious, anticipating further declines in manganese ore and other raw material costs. This divergence limited fresh spot activity and kept price negotiations subdued. Meanwhile, container shortages and elevated freight costs continued to constrain export competitiveness, adding further pressure to alloy prices despite relatively tight spot availability.
According to BigMint’s assessment, domestic silico manganese prices edged lower w-o-w across major markets. Raipur prices declined by INR 600/t ($6/t) to INR 73,700/t ($773/t) exw, while Vizag and Durgapur prices fell by INR 300/t ($3/t) and INR 400/t ($4/t) to INR 73,600/t ($772/t) exw, respectively. Raigarh prices also eased by INR 300/t ($3/t) to INR 73,000/t ($766/t) exw.
Confirmed deals as per BigMint
Market overview
Market benchmarks weaken amid aggressive spot offers: Domestic silico manganese prices faced renewed downside pressure as buyers preferred lower-priced material, outweighing the support from limited spot availability. Offers around INR 73,000-73,300/t exw Raigarh forced sellers to reassess higher asking levels, while bulk transactions of 1,500-2,000 t at around INR 73,000/t exw Durgapur established a lower market benchmark. The deals indicate that competitive spot offers, rather than physical availability, are currently driving price discovery, increasing pressure on sellers to match lower bids.
Export freight spike weighs on domestic sentiment: India’s silico manganese export prices softened w-o-w, with the 65-16 grade declining $6/t to $880/t FOB and 60-14 grade falling $3/t to $807/t FOB Haldia/Vizag. Increased overseas inquiries provided some support, but higher freight costs, container constraints and limited seller willingness to discount continued to restrict spot trade.
Notably, rising freight costs are weakening Indian silico manganese export economics, with rates to key Western markets exceeding $9,000/container from around $3,000 a few months ago. The sharp increase is squeezing exporters’ margins and reducing their price competitiveness, potentially diverting more material to the domestic market. This could increase local supply and add further downside pressure to material prices, sources informed BigMint.
Outlook
Domestic prices are expected to remain under pressure, with a downside of around INR 300-500/t in the coming week. Competitive offers and expectations of softer ore prices are likely to weigh on sentiment, while limited spot availability and firm producer bookings may restrict a sharper correction.
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