- Firmer billet prices provide floor to silico manganese amid cautious buying
- Lower freight revives export inquiries, bolstering silico manganese prices
Domestic silico manganese prices remained rangebound in the week ending 18 August 2026, as limited availability of low-priced material provided support to the market. Key producers remained largely booked through August, while spot availability stayed relatively tight. Meanwhile, firm export inquiries, easing ocean freight rates, and improved container availability have strengthened sellers’ confidence, reducing the likelihood of aggressive price cuts.
Smelters have also adopted strategic production management to balance output with prevailing demand and supply conditions, helping prevent excess spot availability. Additionally, strengthening steel prices have provided further support to domestic silico manganese prices.
According to BigMint’s assessment, domestic silico manganese prices remained largely rangebound w-o-w across major markets, with marginal declines recorded across key producing regions. Raipur prices eased by INR 100/t ($6/t) to INR 73,600/t ($772/t) exw, while Vizag and Durgapur prices declined by INR 400/t ($3/t) and INR 200/t ($4/t) to INR 73,300/t ($772/t) exw and INR 73,400/t exw, respectively. Raigarh prices also slipped by INR 100/t ($3/t) to INR 72,900/t ($766/t) exw.
Confirmed deals as per BigMint
Market overview
Firmer steel prices shield silico manganese from sharper correction: BigMint’s billet index rose by INR 1,200/t w-o-w to INR 39,900/t exw-Raipur on 19 August 2026, providing a stronger cost and sentiment support to domestic silico manganese prices. The increase was driven by higher seller offers, tighter availability of quality raw materials, and improved market sentiment, although buying activity remained selective.
Several buyers had already covered near-term requirements at lower levels, limiting fresh bookings at current prices. Consequently, the sharp rise in billet prices has yet to translate into a broad-based recovery in downstream demand. Nevertheless, firmer billet prices, elevated input costs, and controlled SiMn production are helping sellers resist lower offers and preventing a sharper correction in alloy prices.
Freight correction and higher power costs set firmer floor for SiMn exports: India’s silico manganese export market is showing early signs of improvement as easing ocean freight and better container availability revive overseas inquiries. Freight to Europe, which had earlier climbed to around $9,000/container, has moderated to $6,000–7,000/container, improving exporters’ netbacks and making Indian material more competitive in overseas markets.
The improvement in logistics has coincided with limited spot availability, allowing sellers to adopt a firmer pricing stance. Exporters are increasingly reluctant to offer discounts, anticipating improved demand and a recovery in prices. However, the rise in inquiries has yet to translate into a significant increase in confirmed bookings, keeping the upside measured.
On the cost side, the recent increase in industrial power tariffs in the eastern belt by around INR 1/unit to INR 6.50-6.80/unit is adding further pressure to production economics. Higher power costs are likely to strengthen sellers’ resistance to lower offers, particularly when combined with elevated raw material costs.
Outlook
Domestic silico manganese prices are expected to remain firm to rangebound in the near term, with limited downside as higher WBERC/WBSEDCL power tariffs, elevated raw-material costs, and tight spot availability raise producers’ cost floors. Easing freight and improving export inquiries could provide additional support. However, sustained upside will depend on stronger overseas bookings and a recovery in downstream steel demand.
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