- Ferro chrome drops to a 4-month low ahead of key auction
- Manganese alloys prices remain subdued on weak demand
Ferro silicon prices edge lower in recent trades
Indian ferro silicon (Si 70%) prices dropped by INR 600/t ($7/t) w-o-w to INR 97,000/t ($1,075/t) exw-Guwahati. Bhutan’s prices also fell by INR 1,600/t ($18/t) to INR 97,000/t ($1,075/t). Prices in both regions declined after a few bulk deals at lower rates and cautious buying sentiment in the market.
Ferro chrome at 4-month low
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices dipped by INR 1,700/t ($19/t) to INR 107,400/t ($1,190/t) exw-Jajpur. Prices fell to a nearly four month-low as trading activity stayed limited ahead of the upcoming ferro chrome auction by Vedanta-FACOR. The auction for HC ferro chrome (Cr: 56% min, 0-150 mm) will be held on 22 December, with minimum bid quantities of 25–300 t per lot.
Additionally, OMC sold 78,500 t of chrome ore on 19 December out of 106,800 t offered. Bids for >40% grades fell 5-12% m-o-m (INR 950-2,136/t), while <40% grades were largely stable, overall bids were 0.4-3% (INR 100-700/t) above base prices.
Silico manganese dips to over 2-month low
Indian silico manganese (60-14) prices inched down by around INR 175/t ($2/t) w-o-w to INR 68,500-69,400/t ($759-769/t) across Durgapur, Raipur, Raigarh and Vizag. Cautious buying by domestic mills continued despite a mild recovery in the steel sector, while firm offers from key producers helped maintain a strong price floor through the week.
However, HC 65-16 silico manganese prices edged up by $3/t w-o-w to $903/t FOB Vizag/Haldia.
Ferro manganese prices drop w-o-w
Indian ferro manganese (HC 70%) prices moved down w-o-w by INR 1,100/t ($12/t) to INR 70,900/t ($786/t) in both Durgapur and decreased by INR 400/t ($5/t) to INR 71,600/t ($793/t) in Raipur. Prices declined due to high material availability and weak demand from buyers, limiting trade activity and pressuring offers across markets.
Additionally, HC 75% ferro manganese prices edged up by $1/t w-o-w to $891/t FOB Vizag/Haldia.
Imported manganese ore prices remain stable w-o-w
Prices of higher grades of imported manganese ore (Mn 37-46%) remained largely steady with slight variations w-o-w. Mn44% from Gabon stood at $4.88/dry metric tonne unit (dmtu), down by $0.02/dmtu, Mn46% from Australia was at $5.22/dmtu CIF India, down by $0.02/dmtu, and Mn37% from South Africa was assessed at $4.29/dmtu, unchanged w-o-w.
However, United Manganese of Kalahari (UMK), a leading global manganese ore producer based in South Africa, has set offers for its 36% grade semi-carbonate lumps at $4.15/dmtu CIF China for January deliveries, reflecting a slight rise of $0.05/dmtu m-o-m.
Ferro molybdenum prices remain stable
Indian ferro molybdenum prices remained mostly steady, rising by INR 12,000/t ($133/t) w-o-w to INR 2,662,000/t ($29,500/t) exw. Prices saw a slight rise due to steady domestic trading and a balanced supply-demand scenario, maintaining stability in the market w-o-w.
On the London Metal Exchange (LME), molybdenum futures edged up by $0.28/lb w-o-w to $21.45/lb.
Ferro vanadium climbs despite soft special steel demand
Ferro vanadium (FeV 50%) prices increased by INR 3,000/t ($33/t) w-o-w, reaching INR 1,133,000/t ($12,556/t) ex-Raipur on 17 December. This rise was fuelled by consistent domestic consumption in India despite a slowdown in demand from the special steel sector. Global market sentiment, particularly in China, remains cautious due to reduced steel production and slower economic activity, which has dampened overall demand.
Ferro titanium prices remain stable w-o-w
Indian ferro titanium prices (Ti 70%, 10–50 mm) held steady w-o-w at INR 284,000/t ($3,147/t) ex-works as of 18 December. Market sentiment remained largely unchanged, and with the year-end approaching, trading activity continued to slow leading to subdued conditions across global markets.
IEX spot prices rise w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 3.71/unit during 14-20 December, up from INR 3.52/unit the previous week.
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