- Improved steel demand cues support domestic silico manganese
- Manganese alloys export prices ease despite higher ore costs
Domestic silico manganese prices fell week-on-week on 16 December, as cautious buying by domestic mills persisted despite a slight recovery in the steel sector. Key producers held firm on offers, which helped kept a high floor under prices through the week.
Silico manganese (60-14 grade) prices declined across major markets. In Raipur, prices dipped by INR 100/t ($1/t) to INR 69,400/t ($767/t) exw. In Durgapur prices dropped by INR 200/t ($2/t), settling at INR 69,800/t ($773/t). Rates in Vizag up by INR 200/t ($2/t) to INR 69,400/t ($767/t), while prices in Raigarh rose by INR 100/t ($1/t), bringing prices nearly to INR 68,600/t ($759/t) exw.
The premium 60-15 grade also weakened, falling by INR 300/t ($3/t) w-o-w to INR 71,300/t ($788/t). Reduced steel sector demand exerted downward pressure on premium grade.
Confirmed deals (as per BigMint)
Market overview
Steel prices inch up w-o-w, offering marginal relief to SiMn prices: The BigMint billet index rose by INR 300/t ($4) w-o-w to INR 36,800/t ex-works Raipur on 17 December 2025, supported by a modest improvement in buying activity and positive cues from the sponge iron market. Trading momentum strengthened in the latter half of the session, lifting billet demand and trade volumes. However, sentiment in the finished steel segment remains cautious, with buyers awaiting clearer recovery signals, which has provided limited but steady support to domestic silico manganese prices.
Muted Pre-Christmas Demand Weighs on SiMn Export Prices: India’s silico manganese export market remains subdued due to a lack of fresh overseas bookings, as buyers stay cautious amid expectations of a further fall in prices. Pre-Christmas inquiries have been limited, while higher January manganese ore prices have had little impact on export offers. As per BigMint’s 15 December assessment, export prices declined w-o-w, with 65-16 grade prices falling by $14/t to $901/t FOB and 60-14 grade prices falling by $5/t to $815/t FOB. A weaker rupee, at about INR 91 against the US dollar has partly offset the impact of lower offers, however, this has not had much impact on domestic prices on weekly basis.
Output
The market expects domestic silico manganese prices to remain weak due to cautious buying, but with a floor under prices due to rising ore costs, over the course of this week. Any near-term recovery in steel demand could provide additional price support.
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