- Smelters hold firm as domestic offers peak, supply tightens
- Billet prices trend up on reviving demand, firm offers
India’s silico manganese prices have continued their w-o-w uptrend, driven by tight domestic supply and a rise in consumption by steel mills. The increased demand from the steel sector has slightly pushed prices higher, reinforcing bullish sentiment in the market.
According to BigMint’s assessment on 8 July 2025, domestic prices of 60-14 grade silico manganese edged higher across key Indian regions and reaches a level of 4 months high the same level was seen on 6th March 2025. Ex-works Raipur prices stood at INR 73,200/tonne (t) ($847/t), up by INR 700/t ($8/t) w-o-w. In Durgapur, prices rose by INR 700/t ($4/t) to INR 72,400/t, while Vizag recorded a sharper increase of INR 900/t ($8/t) to INR 72,800/t ($839/t) ex-works.
The premium 60-15 grade slightly up w-o-w at around INR 74,000-75,300/t ($852-$861/t). Deals for 2,100 t of the 60-14 grade were concluded in Raipur over 2-8 July 2025.
Confirmed deals (as per BigMint)
Market overview
Tight supplies in merchant market: Indian silico manganese smelters have maintained elevated offer around INR 73,500/t ($788/t) ex-works in Raipur and Vizag, driven by improved domestic and export bookings. These high-priced deals have set a benchmark for the domestic market, tightening material availability.
Production has been scaled back by most smelters, with some shifting focus to ferro manganese due to rising overseas demand. This shift has led to a limited domestic availability of around 15,000 t on monthly basis specially in Durgapur.
Additionally, monsoonal disruptions have delayed manganese ore transportation across various regions, further exacerbating the supply shortage and supporting the price hike.
Steel sentiment strengthens, billet index climbs: As of 9 July, BigMint’s daily steel billet index was assessed at INR 37,200/t ($461/t) exw-Raipur, marking a week-on-week increase of INR 400/t. The price rise was fueled by reviving demand in both semi-finished and finished steel segments, especially in the latter half of the trading session.
A positive shift in sponge iron market sentiment, particularly in central India, played a key role in supporting billet and rebar prices. The neighbouring regions also saw increased buying activity, reflecting healthy trading momentum.
Outlook
Domestic silico manganese prices are likely to witness a slight upward trend in the near term. This projection is supported by limited production output from smelters, as many have either curtailed operations or shifted to other alloys like ferro manganese and rising export inquiries.
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