- Domestic market gains momentum on supply tightness, stronger steel cues
- Prices likely to hold at higher levels as supply-demand balance remains tight
Domestic silico manganese prices continued their upward movement this week, supported primarily by limited material availability across key producing regions. Spot liquidity remained thin as several producers had already committed a significant portion of their production, allowing sellers to maintain firmer offers despite selective buying interest.
As per BigMint’s assessment, silico manganese (SiMn) 60-14 prices increased on the week ending 8 September 2026 major Indian markets, supported by limited material availability and firmer seller offers.
Raipur prices rose by INR 1,100/t ($5/t) w-o-w to INR 76,100/t ($804/t) exw. Prices in Vizag increased by INR 1,000/t to INR 75,400/t ($797/t) exw, while Durgapur prices advanced by INR 1,000/t($11/t) to INR 75,400/t ($797/t) exw. In Raigarh, prices climbed by INR 1,100/t to INR 75,300/t ($796/t) exw.
Confirmed deals (as per BigMint)
Market overview
Steel price gains sustain price upside: BigMint’s billet index rose by INR 450/t w-o-w to INR 42,700/t exw-Raipur on 8 September, supported by improved demand for semi-finished steel and stronger buying interest from Maharashtra and Gujarat. Increased trading activity after the holidays and expectations of further steel price gains encouraged bookings at prevailing levels.
Firmer steel realisations have strengthened producers’ confidence in maintaining elevated SiMn offers. However, buying remains largely requirement-based, with consumers showing resistance to sharp price increases.
Limited prompt availability key factor: As major producers have secured orders for the coming months, reducing spot availability, particularly for standard grades. This has strengthened sellers’ bargaining power, leaving buyers with limited scope for aggressive negotiation.
The current price firmness therefore appears largely supply-driven rather than demand-led, with constrained spot material supporting prices despite only moderate improvement in buying activity. Prices across Raipur, Durgapur, Vizag and Raigarh are likely to remain supported in the near term, while the extent of further gains will depend on replenishment requirements from steelmakers and alloy consumers.
Outlook
SiMn prices are expected to consolidate at elevated levels with an upward bias. Further gains will depend less on speculative buying and more on whether steel demand strengthens enough to absorb higher alloy costs. Tight prompt supply should limit downside, while buyer resistance and improving ore availability could cap the upside.
Leave a Reply