Indian silico manganese prices find support on export parity, however domestic demand remains under pressure on falling interest from secondary steel manufacturers
Indian silico manganese prices remain stable over fair demand from export market. According to market sources, an Indian exporter based at Eastern coast has concluded a deal for 65-15 grade of Silico Manganese with a Japanese trader at around US$ 1020/MT CFR Japan. Offers are quite similar to last week.
Indian Domestic SiMn Prices
Current offers for 60-14 grade, which is commonly used by Indian steel mills, is hovering at INR 52,000-53,500 ($840-860) on ex- plant basis. Traders believe that domestic prices will remain firm till manufacturers get better realizations in exports. Also weak rupee and higher manganese ore prices in domestic market will support ferro alloy prices in coming weeks.
Manganese Ore Prices
Manganese ore offers in Indian market remain stable this week, however with lower production due to extended monsoons, it is unlikely that prices may come down, in fact market witnessed significant rise in bid prices in recent Karnataka’s e-auction.
Price Comparison between Manganese Ore Prices Across India
| Particular | Grade | Price (in INR/MT) | Price (in $/dmtu) |
| Odisha | 32-34 Mn | 6,500-7,000/MT | $3.2-3.4/dmtu |
| Balaghat (MOIL) | 30 Mn | 7,500-7,800/MT | $4.0-4.2/dmtu |
| Balaghat, Private Miners | 32-34 Mn | 7,000-7,500/MT | $3.4-3.7/dmtu |
| Karnataka E-Auction | 32-34 Mn | 9,500- 9,800/MT | $4.7-4.8//dmtu |
| Imported | 38 Mn | – | $4.5/dmtu |
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