- Ferro chrome declines amid tepid buying sentiment
- Silico manganese prices soften amid buyer reluctance
Ferro silicon prices rise w-o-w amid limited seller activity
Indian ferro silicon prices were largely steady with a slight dip of INR 200/t ($2/t) seen w-o-w to INR 88,700/t ($1,007/t) exw-Guwahati. However, Bhutanese offers went up by INR 900/t ($10/t) to INR 88,400 ($1,004/t). Prices rose on tight supply, with limited sellers and Bhutanese exports driven by strong overseas demand.
Ferro chrome prices slip w-o-w on weak buying interest
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices dipped by INR 300/t ($3/t) w-o-w to INR 117,800/t ($1,337/t) exw-Jajpur. Prices fell as previously elevated offers failed to hold amid subdued buying interest.
Additionally, at OMC’s chrome ore auction on 19 September, nearly all material (79,600 t) was sold, with bids rising 6-45% (INR 550–8,809/t) m-o-m. Moreover, ferro chrome auction is scheduled on 22 September.
Silico manganese prices ease w-o-w on buyer resistance
Indian silico manganese prices (60-14) dipped by INR 200/t ($2/t) w-o-w to INR 69,000-69,200/t ($783-786/t) in the key regions of Durgapur, Raipur, and Vizag. Prices dropped as buyers resisted elevated offers amid stable demand and sufficient market availability. Meanwhile, export p rices of the 65-16 grade edged down by $2/t w-o-w to $910/t FOB Vizag/Haldia, India.
Ferro manganese prices remain largely stable w-o-w
Indian ferro manganese (HC 70%) prices remained largely stable with a slight rise of INR 100/t ($1/t) w-o-w to INR 70,400/t ($799/t) exw in Durgapur. Meanwhile, prices, exw-Raipur, also edged up by INR 100/t($1/t) to INR 70,500/t ($800/t) w-o-w. Stable demand and limited supply fluctuations kept ferro manganese prices largely unchanged with minor adjustments.
Additionally, HC 75% ferro manganese prices inched up by $1/t w-o-w to $886/t FOB Vizag/Haldia.
Imported manganese ore prices largely stable w-o-w
Prices of imported manganese ore (Mn 37-46%) remained mostly stable w-o-w across all grades. Mn44% from Gabon stood at $4.41/dry metric tonne unit (dmtu), flat w-o-w; Mn37% from South Africa was assessed at $4.20/dmtu, up by $0.04/dmtu and Mn46% from Australia was at $4.72/dmtu CIF India, unchanged w-o-w.
Additionally, MOIL entered the export market, dispatching 54,600 t of low-grade manganese ore fines (Mn:25%) to Indonesia.
Moreover, Jupiter kept its manganese ore offers (Mn:36.5%) unchanged m-o-m at $4.05/dmtu CIF China for October shipments.
Ferro molybdenum rates ease on global cues
Indian ferro molybdenum prices fell by INR 89,000/t ($1,009/t) w-o-w to INR 3,084,000/t ($34,975/t) exw. Prices dropped due to lower domestic inquiries and a fall in LME futures, along with global tags. On the London Metal Exchange (LME), molybdenum futures inched down by $0.48/lb w-o-w to $25.47/lb.
Ferro titanium prices hold firm w-o-w
Indian ferro titanium (Ti:70%, 10-50 mm) prices remained largely stable, dipping slightly by INR 4,000/t ($45/t) w-o-w to INR 330,000/t ($3,744/t) exw. Overall, the market remained largely unchanged, with supply and demand balanced and no significant price movements observed.
Ferro vanadium largely stable amid cautious demand
Ferro vanadium (FeV 50%) prices in India held largely steady this week, edging up by INR 5,250/t ($60/t) to INR 1,121,250/t ($12,777/t) ex-Raipur. The market remained stable amid thin trading volumes, with domestic demand subdued due to need-based buying and sluggish special steels production. In China, sentiment stayed cautious as steel mills’ procurement remained weak. Globally, limited market activity continued to restrict price movement, keeping the overall outlook broadly range-bound.
IEX spot prices dip w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 3.9/unit during 12 to 19 September, down from INR 4.08/unit in the previous week.
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