- Silico manganese dips on subdued demand
- Ferro silicon prices rise on bid-offer gap
Ferro chrome largely stable, market awaits OMC auction
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices inched up by INR 300/t ($4/t) w-o-w to INR 100,600/t ($1,178/t) exw-Jajpur. The ferro chrome market remained stable, as evidenced from Vedanta-FACOR’s auction on 14 April. Market participants are now closely monitoring the Odisha Mining Corporation’s chrome ore auction, scheduled for today, which may impact future pricing.
At Vedanta-FACOR’s ferro chrome auction today, the bigger lot of 10-150 achieved an H1 price of INR 100,100/t exw, above the base price of INR 99,700/t. Bids also went up by INR 1,400/t from the previous 21 March auction.
Silico manganese prices decline w-o-w in subdued market
Indian silico manganese prices decreased w-o-w by INR 600/t ($7/t) to INR 71,200-71,600/t ($834-839/t) in the key regions of Durgapur, Raipur and Vizag. Fluctuations in domestic steel prices have led to a slowdown in the silico manganese market due to weaker demand from the steel sector.
Meanwhile, prices of the 65-16 grade edged down by $2/t w-o-w to $938/t FOB Vizag/Haldia, India.
Ferro manganese prices drop w-o-w
Indian ferro manganese (HC 70%) prices inched down by INR 250/t ($3/t) w-o-w to INR 74,750/t ($875/t) exw in Durgapur. However, prices exw-Raipur, dipped by INR 200/t ($2/t) to INR 74,800/t ($876/t). Prices went down on need-based purchases and market cautiousness.
Additionally, HC 75% ferro manganese prices dipped by $8/t w-o-w to $958/t FOB Vizag/Haldia.
Ferro silicon prices decline on bid-offer disparity
Indian ferro silicon prices declined by INR 1,100/t ($13/t) w-o-w to INR 95,000/t ($1,113/t) exw-Guwahati. Meanwhile, prices were in Bhutan also dipped by INR 500/t ($6/t) to INR 96,000/t ($1,124/t) exw. Prices fell majorly in the north-eastern region of India, owing to limited inquiries and a wide gap between bids and offers.
Ferro molybdenum dips on declining global prices
Indian ferro molybdenum prices inched down by INR 24,000/t ($281/t) w-o-w to INR 2,547,000/t ($29,829/t) exw-India. This decline followed a drop in global prices, especially in China. Meanwhile, the London Metal Exchange (LME), prices dropped marginally by $0.1/lb w-o-w to $19.92/lb.
Ferro vanadium prices remain steady w-o-w
Indian ferro vanadium (FeV 50%) prices remained unchanged w-o-w at INR 1,074,000/t ($12,578/t) exw-Raipur. Price adjustments were constrained by market elasticity and environmental factors. Meanwhile, China’s vanadium pentoxide held steady at RMB 85,000/t ($11,567/t), indicating stable demand and potentially uninterrupted Indian production ahead.
Ferro titanium prices remain stable w-o-w
Ferro titanium (Ti: 70%, 10-50 mm) prices in India remained stable w-o-w at INR 355,000-360,000/t ($4,157 – $4,216/t) exw. The market showed no major shifts, with sentiment and demand remaining steady.
IEX spot prices dip w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 4.7/unit during the period from 13-19 April, going down from INR 5.05/ unit in the previous week.
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