India: Medium-carbon silico manganese prices climb up w-o-w as supply tightens

• Advance bookings limit availability of prompt material
• Producers adjusting output based on prevailing power, alloy economics

India’s medium-carbon silico manganese (Mn 53%, Si 20%, C max 0.5%) prices rose by INR 2,700/t ($28/t) w-o-w to INR 94,500/t ($987/t) in the assessment week ended 1 October 2026. The increase was driven by restricted prompt availability, stronger offtake for committed volumes, and reduced spot material, allowing producers to maintain higher price levels despite selective buying.

Restricted spot material gives sellers stronger leverage

The availability of medium-carbon silico manganese in the spot market has tightened as producers allocate material against existing commitments and bulk requirements. With fewer freely available tonnes in the market, buyers have had limited room to negotiate lower prices. Producers are therefore maintaining their offers at elevated levels, while consumers continue to cover only immediate requirements. This imbalance between available spot material and buying needs has supported the latest price increase.

Committed volumes limit availability of fresh material

A sizeable portion of production is being absorbed through advance bookings and committed supplies, leaving relatively limited quantities for prompt transactions. Producers are also adjusting output based on prevailing power and alloy economics, restricting their willingness to increase spot availability. As a result, buyers seeking immediate cargoes are facing higher offer levels, while sellers remain comfortable holding prices rather than competing aggressively for business.

A key trader told BigMint, “Spot material is becoming harder to secure, and producers are not showing much flexibility on offers. Buyers are still purchasing selectively, but higher levels are being accepted.”

Outlook

Prices are likely to remain supported in the near term as committed volumes and limited spot availability keep supply tight. However, sustained gains will depend on stronger downstream buying and transaction volumes.