- Improved bulk bookings tighten spot availability
- Met coke price rally increases production costs
Silico manganese export prices increased slightly in the week ending 21 September 2026, supported by rising inquiries from key overseas markets, including Japan, the US, and the MENA region. Buying activity remained healthy, with consumers securing bulk volumes at higher levels amid concerns over further cost escalation.
The increased bulk bookings have tightened spot availability in the market, providing additional support to prices. Meanwhile, elevated coking coal and met coke prices have further strengthened the cost-side support for silico manganese producers, keeping the overall market sentiment firm.
Silico manganese export prices rose by an average of $6/t w-o-w in the week ended 21 September 2026. The 60-14 grade increased by $6/t to $831/t FOB Vizag/Haldia, while the 65-16 grade climbed $7/t to $936/t FOB Vizag/Haldia.
Market Overview
Improved demand, tight availability lift prices: Overseas inquiries for silico manganese from the US, Japan, and the MENA region have improved, after being largely absent earlier, indicating a pickup in international buying interest. The recent bulk bookings of around 10,000-15,000 t of 65-grade silico manganese and higher grades at around $930-940/t FOB Haldia/Vizag have established a higher benchmark in the export market.
Following these bookings, Vizag-based smelters have started offering material at around $940-950/t FOB for fresh orders. Meanwhile, some producers are prioritising earlier bulk commitments, further limiting spot availability, sources informed BigMint.
With reduced availability and improved overseas inquiries, sellers have gained greater pricing leverage in the export market, keeping price expectations firm.
Higher met coke prices provide cost support: Domestic met coke prices strengthened amid limited imported availability and firm replacement costs, with blast furnace (BF)-grade coke rising to INR 42,000/t ex-Jajpur and INR 38,200/t ex-Gandhidham. The tighter coke market has increased cost pressure on silico manganese producers, supporting firm export offers alongside improved overseas demand and limited spot availability.
Outlook
Silico manganese export prices are expected to remain firm in the coming week, supported by improved inquiries from overseas, recent bulk bookings, and limited spot availability. Higher met coke costs are adding further cost-side support. However, the sustainability of the uptrend will depend on fresh overseas bookings and the pace of restocking by buyers.
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