- Bulk orders keep domestic smelters busy, spot market under pressure
- Limited competition keeps Indian export prices firm this week
Indian silico manganese prices in the domestic market increased on a weekly basis. The uptrend is largely attributed to increased procurement by domestic steel mills, who expect a further rise in alloy prices amid firming up of imported manganese ore and coke costs. Moreover, with the upcoming festive season expected to constrain logistics and supply, many mills have begun building inventories in advance to mitigate potential disruptions.
As per BigMint’s assessment on 14 October 2025, domestic prices of silico manganese (60-14 grade) witnessed an upward trend across key regions. In Raipur, prices reached INR 71,200/t ($808/t) exw, reflecting a w-o-w increase of INR 500/t ($6/t).
Durgapur followed, with rates assessed at INR 71,200/t ($808/t), up by INR 400/t ($5/t). Prices in Vizag also edged higher by INR 500/t ($6/t) to INR 70,600/t ($801/t). Meanwhile, Raigarh recorded the sharpest rise of INR 400/t ($5/t) to INR 70,200/t ($796/t) ex-works.
The premium 60-15 grade was up slightly w-o-w, trading between INR 72,300-73,000/t ($821-828/t). Meanwhile, in Raipur, trade activity remained stable, with weekly volumes holding around 2,400 t, unchanged from the previous week. The steady offtake reflects consistent demand from alloy consumers and stable market sentiment.
Confirmed deals (as per BigMint)
Market overview
Steel mills secure stocks as material shortages loom: Domestic steel mills have increased activity ahead of the pre-festive season, replenishing stocks to ensure uninterrupted production amid concerns over potential material shortages. The market continues to face supply constraints, as key buyers are holding significant quantities of bulk material. Consequently, domestic smelters are focused on fulfilling these large orders, leaving limited material available in the spot market, which kept prices supported.
A Durgapur-based smelter informed BigMint that the silico manganese market is expected to trend upwars in the near term, as major producers are fully booked with domestic bulk orders. He added that the market was likely to maintain the same pace over the next two months. Currently, despite a modest downtrend in steel prices, there has been limited impact on alloy prices, and no significant correction is observed.
Exports hold steady amid sustained overseas demand: India’s silico manganese export market remained stable this week, supported by consistent trade flows and limited competitive pressure. Export prices for 65-16 grade inched up by $4/t w-o-w to $920/t FOB, while the 60-14 variant remained unchanged at $820/t FOB. The market has held steady due to sustained demand from regular buyers, particularly in Southeast Asia, the Gulf, and parts of Europe, who continue to prefer Indian material for its reliable quality and timely delivery. Strong export demand has also helped support domestic prices.
Outlook
Domestic silico manganese prices may witness a slight uptrend in the near term amid limited spot supplies. Additionally, firm overseas demand is expected to lend further support to domestic market sentiment.
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