- Steel price fluctuations slow down market
- Minimal trades keep prices stable in key regions
The domestic silico manganese market weakened w-o-w, with a slight decrease in prices. On 16 April, 2025, the 60-14 grade silico manganese fell by INR 600/tonne ($7/t) compared to the previous week, according to BigMint’s assessment. Prices across key regions dropped to INR 71,300-72,400/t ($835-845/t).
In Raipur, offers ranged between INR 71,500-72,000/t ($835-$841/t). Meanwhile, in Vizag, prices were between INR 71,800-72,300/t ($838-843/t) exw.
Confirmed deal (as per BigMint)
Market overview
Steel billet prices fall w-o-w: Fluctuations in domestic steel prices have led to a slowdown in the silico manganese market due to weaker demand from the steel sector. BigMint’s daily steel billet index closed at INR 41,200/t exw-Raipur on 16 April, down by INR 200/t w-o-w.
Uncertainty in supply and demand dynamics caused buyers to adopt a cautious approach, impacting the demand for silico manganese. Consequently, the market has seen limited inquiries and reduced consumption.
Additionally, a key producer informed BigMint that prices offered from Raigarh are hovering at around INR 71,000/t ex-works, creating pressure on the Raipur market to reduce prices. However, the absence of key producers in the retail market has helped keep domestic prices largely stable. This cautious sentiment is expected to persist in the near term, potentially leading to further price adjustments in silico manganese.
The global market for silico manganese is facing challenges due to lower demand and increased supply, which have impacted international prices. These factors have also put pressure on India’s silico manganese segment, leading to lower prices and reduced margins.
SiMn export prices decline w-o-w: Silico manganese export prices declined slightly w-o-w, driven by a decrease in imported manganese ore prices. BigMint’s assessment on 14 April, 2025, showed export prices for the 65-16 grade at $940/t FOB, down by $5/t w-o-w. The 60-14 variant also edged down by $4/t to $844/t FOB.
Imported manganese ore prices have fallen to a two-month low due to reduced inquiries and a sluggish domestic downstream alloys market. Australian high-grade ore prices decreased by $0.25/dmtu to $5.48/dmtu, while the Gabonese variant edged down by $0.23/dmtu to $4.91/dmtu. South African lumps saw a slight decrease of $0.13/dmtu to $4.07/dmtu. Additionally, Eramet Comilog set its May shipment prices for Mn 44.5% lumps at $4.8/dmtu, marking a decrease of $0.3/dmtu due to reduced Chinese steel demand and oversupply from South Africa.
Outlook
The domestic silico manganese market is likely to experience a slowdown in the near term due to a significant demand-supply gap and limited export inquiries. Additionally, the decline in export prices, driven by a decrease in imported manganese ore prices, further complicates the market scenario.
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