- Market resistance forces domestic price correction
- Export sentiment weakens amid global uncertainty
Indian silico manganese prices witnessed a softening trend over the past week, driven largely by limited buyer interest at elevated price levels. Market participants indicated a cautious approach to procurement, with many preferring to wait amid concerns over affordability.
This resistance to higher pricing, rather than a drop in demand or oversupply, has been the primary factor prompting producers and traders to adjust their offers to match market expectations. As a result, overall trading activity remained subdued across key regions.
According to BigMint’s assessment on 19 August 2025, domestic silico manganese prices of the 60-14 grade were recorded as follows: ex-works prices in Raipur were at INR 70,800/tonne (t) ($813/t), down by INR 500/t ($6/t), while tags in Durgapur stood at around INR 70,800/t ($813/t), down by INR 300/t ($3/t). In Vizag, prices were at INR 70,900/t ($814/t), down by INR 200/t ($2/t).
Meanwhile, the premium 60-15 grade was also dipped w-o-w, trading in the range of INR 71,000-72,000/t ($816-827/t). In Raipur, trade volumes dropped to 1,500 t from 2,200 t in the previous week.
Confirmed deals (as per BigMint)
Market overview
Buyers resist steeper price expectations: Market participants across key regions are pushing back against higher silico manganese prices. Despite stable operational costs and consistent demand from steelmakers, buyers are unwilling to commit at elevated levels. This hesitation stems from tight margins, cautious spending, and expectations of better deals ahead. As a result, suppliers are being forced to recalibrate their offers to keep deals moving.
Regional demand faces temporary setbacks: In Raipur and surrounding markets, trade volumes dipped noticeably due to weaker spot demand from mid-sized buyers and rolling mills. Ongoing monsoon-related logistics issues and lower furnace activity in some regions have added to the slowdown. While core demand remains intact, short-term operational constraints are impacting immediate offtake, prompting suppliers to adopt a more flexible pricing posture.
Export demand slows amid global caution: Export activity has moderated as international buyers adopt a conservative stance, mirroring domestic market trends. Overseas inquiries have been selective, with buyers negotiating aggressively and preferring short-term contracts. Factors such as currency fluctuations, freight uncertainties, and cautious steel production in key regions like Southeast Asia and the Middle East are impacting appetite. Indian exporters are adjusting their offers accordingly to stay competitive.
Outlook
Silico manganese prices may hold steady in the near term supported by a slight increase in Raipur billet prices by INR 250/t w-o-w. Despite cautious buyers, stable steel demand is expected to improve purchasing interest, encouraging suppliers to keep prices aligned with market conditions.
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