- Weak offtake and rising export bottlenecks pressure domestic market
- Eramet trims Aug manganese ore prices amid subdued market sentiment
Indian silico manganese prices extended their downtrend in the week ended 7 July 2026, weighed down by subdued buying activity in both the domestic and export markets. Domestic steel mills largely restricted purchases to immediate requirements amid weak finished steel demand, limiting alloy procurement.
Meanwhile, export trade remained sluggish as rising ocean freight rates and container shortages delayed shipments and discouraged fresh bookings. Market participants also reported limited deal activity across both domestic and overseas markets, resulting in surplus spot availability which exerted additional pressure on prices.
As per BigMint’s assessment, domestic silico manganese prices declined by INR 850/t ($9/t) w-o-w across key Indian markets, as producers lowered offer levels to stimulate demand amid surplus spot availability, despite elevated production costs. Raipur witnessed the sharpest correction, with prices falling by INR 1,300/t to INR 75,900/t ($811/t) ex-works. Prices in Vizag eased by INR 500/t to INR 75,700/t ($800/t), while Durgapur and Raigarh recorded declines of INR 500/t and INR 1,000/t to INR 76,000/t ($804/t) and INR 75,200/t ($805/t), respectively.
The correction reflects weak buying interest across both domestic and export markets, which outweighed the cost support from higher power tariffs and firm raw material costs.
Confirmed deals (as per BigMint)
Market overview
Export slowdown, excess availability intensify price correction: Domestic silico manganese demand remained weak as steel mills restricted purchases to immediate requirements amid sluggish finished steel offtake. Meanwhile, slower export bookings due to elevated ocean freight, container shortages, and shipment delays redirected more material into the domestic market, creating surplus spot availability. With demand unable to absorb the excess supply, competitive selling intensified, with some deals reported below INR 75,500/t ex-works Raipur, prompting other smelters to lower offers despite elevated production costs.
Higher shipping costs pressure silico manganese export prices: Indian silico manganese export prices edged lower in the week ended 6 July, pressured by rising ocean freight rates, carrier surcharges, and persistent container shortages, which squeezed exporters’ margins and dampened fresh overseas bookings. Higher logistics costs, driven by peak-season demand, tighter vessel capacity, and elevated bunker fuel surcharges, prompted suppliers to adopt a cautious pricing approach amid limited export inquiries. As per BigMint’s assessment, 65-16 grade prices eased by $4/t w-o-w to $921/t FOB, while 60-14 grade declined by $4/t to $831/t FOB Haldia/Vizag.
Competitive pricing and cautious procurement pressure billet index: BigMint’s billet index fell by INR 600/t w-o-w to INR 37,900/t ex-works Raipur on 7 July, as producers lowered offers to stimulate demand amid subdued sentiment. Although the correction improved selective bookings, overall trading remained weak due to sluggish finished steel demand and cautious procurement. Competitive offers from nearby producers and weaker regional cues continued to weigh on local billet prices.
Eramet reduces August ore offers as buying interest weakens: Eramet Comilog reduced its August offer prices, lowering Mn 44.5% ore to $5.10/dmtu and Mn 43% ore to $4.90/dmtu, both down by $0.08/dmtu m-o-m, reflecting softer market sentiment and weaker buying interest.
Outlook
Domestic silico manganese prices are likely to remain under mild pressure amid weak steel demand, cautious mill procurement, surplus spot availability from slower exports, and lower August ore offers from Eramet. 
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