- Slight price fluctuations seen in key markets
- Steel sector recovery may lift silico manganese prices
India’s silico manganese prices remained largely stable w-o-w despite rising concerns over limited material availability. Key smelters continue to strategically reduce production levels, which led to a mild price recovery in select regions. This controlled output helped balance the market and prevent further price declines.
Domestic prices of 60-14 grade silico manganese were rangebound this week, with slight fluctuations in key regions, according to BigMint’s assessment on 24 June 2025. Prices on exw-Raipur basis were at around INR 72,100/tonne (t) ($835/t), up by INR 300/t ($3/t) w-o-w, and exw Durgapur inched up by 450/t($5/t) w-o-w to 71350/t and Vizag observed a slight decline of INR 100/t ($1/t) to INR 71,200/t ($820/t) exw.
The premium 60-15 grade remained stable w-o-w at around INR 73,000-73,800/t ($844-$853/t). Deals for 3,100 t of the 60-14 grade were concluded in Raipur over 18-24 June, slightly up by 400 t from last week.
Confirmed deals (as per BigMint)
Market overview
Price stability prevails despite steel market slump: Domestic prices have remained largely stable despite weakening downstream demand, primarily due to high-priced deal closures and growing concerns over immediate delivery timelines. A few transactions at INR 72,500/tonne ex-works Raipur have effectively set a benchmark for the market. A key Raipur-based smelter informed BigMint that current delivery timelines are stretching to 4-5 days post-booking, which is contributing to price stability. However, the ongoing softness in the steel market continues to exert downward pressure on prices.
Billet prices soften, hit 4-year low: According to BigMint, billet prices in Raipur declined by INR 700/t ($6/t) w-o-w, settling at INR 37,100/t ex-works ($437/t). The index has hit a 4-year low earlier this week. The market witnessed modest buying activity, with sentiments remaining largely rangebound. While spot offers saw minor corrections, a rise in demand for semi-finished steel helped limit the price drop. Additionally, a slight recovery in finished steel trade further supported consumption in the semi-finished segment, preventing a sharper decline. This led the silico manganese prices being rangebound.
Outlook
Domestic silico manganese prices are expected to remain stable as cautious buying continues to limit upward movement in the domestic market. While demand remains uncertain, a potential recovery in the steel sector could support and possibly boost prices.
Leave a Reply