- Small smelters in Raipur plan maintenance breaks to curb losses
- MOIL’s May’25 manganese ore offers to influence domestic prices
The domestic silico manganese market recorded a w-o-w decline. As of 29 April 2025 , prices for the 60-14 grade dropped by INR 300/tonne ($4/t) from the previous week, as per BigMint’s assessment. Prices fell across major trading regions to INR 70,500-70,800/t ($833-837/t).
In Raipur, offers ranged between INR 70,500-71,500/t ($833-$846/t). Meanwhile, in Vizag, prices were between INR 70,000-71,500/t ($827-846/t) exw.
Deal concluded (as per BigMint)
Factors keeping prices under pressure
Steel mills adopt cautious procurement approach: Steel mills, with sufficient inventories, have adopted a cautious approach to procurement. This has put pressure on smelters to offer competitive prices to secure deals. Some deals were closed at lower rates of INR 69,600-70,500/t ex-works in Durgapur, Raipur, and Vizag. This shift has given buyers more bargaining power, forcing smelters to offer more competitive prices to secure orders. Additionally, buyers are expecting further price drops due to the downtrend in imported manganese ore prices.
Smelters opt for maintenance amid weak demand: In response to weak demand and aggressive buyer behaviour, several small smelters in Raipur have started planned maintenance to avoid further losses due to high production costs and squeezed profit margins. These smelters have implemented production cuts and planned maintenance to balance supply and demand, helping to maintain price stability by reducing the supply of material. Specifically, 30 MVA furnaces with a production capacity of 5,000 t per month have opted for planned maintenance. This strategic move aims to address the market surplus caused by limited deals in both the export and domestic markets.
Domestic steel market slows w-o-w: The domestic steel market is experiencing a slowdown due to weaker demand. Trading activities remained dull today, with minimal movements observed in the spot market. Buyers chose to stay on the sidelines and resorted to need-based buying, owing to a lack of clarity regarding market direction. The decline in steel prices persists, with BigMint’s daily steel billet index closing at INR 40,100/t ($474/t) ex-works Raipur on 30 April, down by INR 600/t ($8/t) w-o-w.
Outlook
Domestic silico manganese prices are expected to remain on a downtrend in the near term due to limited buying by steel mills and the ongoing decline in steel prices. The market is also awaiting MOIL’s May 2025 offers for manganese ore, which will significantly impact domestic prices.
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