Weekly round-up: Ferro alloys prices show varied trends amid supply issues, export slowdown

Ferro chrome prices hit 9-month high amid supply constraints
Silico manganese slumps to 3-month low due to export weakness

Indian ferro alloys prices showed contrasting trends w-o-w amid supply constraints and export weakness in certain commodities. Ferro chrome, ferro molybdenum, and ferro vanadium were among the products that witnessed a hike, while prices of silico manganese, ferro silicon, and imported manganese ore fell.

Ferro silicon prices slip w-o-w in recent trades

Indian ferro silicon prices dropped by INR 1,550/tonne (t) ($18/t) w-o-w to INR 91,200/t ($1,035/t) exw-Guwahati. Meanwhile, Bhutan’s offers dipped by INR 1,000/t ($11/t) to INR 92,500/t ($1,049/t) exw. The market stayed quiet with some inquiries, while rising imports continued to exert downward pressure on overall sentiment.

Ferro chrome prices touch 9-month high amid tight supply

Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices rose by INR 6,000 ($68/t) w-o-w to INR 109,500/t ($1,242/t) exw-Jajpur. Prices reached a nine-month peak, last seen in November last year, as material availability was limited, which led to a rise in offers.

Additionally, at OMC’s ferro chrome auction on 25 August, 3,050 t were sold from 3,600 t offered. As per reliable sources, the 1,500 t lot (Cr: 60-64%, Si: 4%, 10-100 mm) was booked in the price range of INR 108,700-108,800/t exw, up by INR 9,100-9,200/t over base prices.

Silico manganese hits 3-month low as exports falter

Indian silico manganese prices (60-14) decreased by INR 830/t ($9/t) w-o-w to INR 69,700-69,900/t ($791-793/t) in the key regions of Durgapur, Raipur, and Vizag. Silico manganese prices in Raipur hit a three-month low due to limited export inquiries and continued sluggish buying interest in overseas markets.

Meanwhile, export prices of the 65-16 grade dipped by $8/t w-o-w to $923/t FOB Vizag/Haldia, India.

Ferro manganese prices remain largely stable w-o-w

Indian ferro manganese (HC 70%) prices dipped by INR 140/t ($2/t) w-o-w to INR 70,500/t ($800/t) exw in Durgapur. However, prices, exw-Raipur, remained unchanged at INR 70,700/t ($802/t) w-o-w. The dip was due to modest demand weakness and increased availability from select producers in Durgapur.

Additionally, HC 75% ferro manganese prices dropped by $14/t w-o-w to $890/t FOB Vizag/Haldia.

Imported manganese ore prices drop w-o-w

Prices of imported manganese ore (Mn 37-46%) decreased w-o-w across all grades. Mn44% from Gabon stood at $4.38/dry metric tonne unit (dmtu), down by $0.02/dmtu; Mn37% from South Africa was assessed at $4.14/dmtu, down by $0.04/dmtu, and Mn46% from Australia was at $4.68/dmtu CIF India, down by $0.02/dmtu w-o-w.

Ferro molybdenum strengthens amid rising costs, LME uptick

Indian ferro molybdenum prices increased by INR 57,000/t ($647/t) w-o-w to INR 3,100,000/t ($35,168/t) exw. The price hike followed an increase in London Metal Exchange (LME) molybdenum oxide tags and global ferro molybdenum rates. Additionally, molybdenum oxide prices on the LME also moved up to a two-year high of $25.24/lb.

Ferro vanadium up w-o-w as China curbs raw material outflows

India’s ferro vanadium (FeV 50%) prices rose by INR 13,500/t ($153/t) w-o-w to INR 1,109,500/t ($12,586) ex-Raipur, driven by tight domestic supply and higher vanadium oxide prices amid reduced Chinese exports due to production curbs. The global vanadium market remained firm, adding upward pressure on Indian prices.

Ferro titanium prices post slight w-o-w gain

Ferro titanium (Ti:70%, 10–50 mm) prices witnessed a marginal increase of INR 14,000/t ($159/t) w-o-w to INR 340,000/t ($3,857/t) ex-works India. Market dynamics remained unchanged, supported by balanced supply-demand fundamentals.

IEX spot prices decline w-o-w

Electricity prices on the Indian Energy Exchange (IEX) stood at INR 3.62/unit during 24-30 August, down from INR 4.32/unit in the previous week.

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