- Silico manganese tags shrink on need-based buying
- Ferro silicon prices face pressure on lower bids
Ferro chrome prices steady in cautious market
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices held steady with a slight decline of INR 100/t ($1/t) w-o-w to INR 100,500/t ($1,177/t) exw-Jajpur. The majority of market participants were in a wait-and-watch mode which created a buffer against price fluctuations.
Additionally, 30,900 t of material were sold at OMC’s chrome ore auction out of 104,600 t offered. Bids edged up by 2-5% (INR 189-900/t) against the previous auction.
Silico manganese prices down w-o-w on muted buying interest
Indian silico manganese prices decreased w-o-w by INR 700/t ($8/t) to INR 70,500-70,900/t ($826-831/t) in the key regions of Durgapur, Raipur and Vizag. The decline in domestic steel prices significantly impacted the silico manganese market w-o-w.
Meanwhile, prices of the 65-16 grade declined by $6/t w-o-w to $932/t FOB Vizag/Haldia, India.
Ferro manganese prices decline w-o-w
Indian ferro manganese (HC 70%) prices fell significantly by INR 1,050/t ($12/t) w-o-w to INR 73,700/t ($863/t) exw in Durgapur. Meanwhile, prices, exw-Raipur decreased by INR 800/t ($9/t) to INR 74,000/t ($867/t). Prices fell on persistent decline in inquiries and cautious market moves.
Additionally, HC 75% ferro manganese prices dipped by $13/t w-o-w to $945/t FOB Vizag/Haldia.
Imported manganese ore dips as global miners cut offers
Prices of imported manganese ore (Mn 37-46%) inched down across grades w-o-w. Mn44% from Gabon stood at $4.69/dry metric tonne per unit (dmtu), down by $0.3/dmtu. Mn37% from South Africa was assessed at $3.94/dmtu, down by $0.13/dmtu w-o-w and Mn46% from Australia was at $5.02/dmtu CIF India, down by $0.32/dmtu.
Additionally, Eramet Comilog, a major manganese ore exporter from Gabon, has set its May shipment prices for Mn 44.5% lumps at $4.8/dmtu, marking a $0.3/dmtu decrease m-o-m.
Ferro silicon prices remain under pressure w-o-w
Indian ferro silicon prices remained unchanged w-o-w at INR 95,000/t ($1,113/t) exw-Guwahati. Meanwhile, prices in Bhutan dipped by INR 200/t ($2/t) to INR 95,800/t ($1,122/t) exw. Prices dropped slightly, as sellers received limited inquiries and deals were closed at lower values.
Ferro molybdenum holds steady in stable market
Indian ferro molybdenum prices inched down by INR 4,000/t ($47/t) w-o-w to INR 2,543,000/t ($29,788/t) exw-India. Prices held steady as the market operated at regular pace with no significant changes seen. Meanwhile, prices on the London Metal Exchange (LME) stayed steady too, edging down $0.08/lb w-o-w to $19.84/lb.
Ferro vanadium prices largely stable w-o-w
Indian ferro vanadium (FeV 50%) prices remained largely stable with a slight decline of INR 3,000/t ($35/t) w-o-w at INR 1,071,000/t ($12,546/t) exw-Raipur. Price adjustments were constrained by market elasticity and environmental factors. Despite stable prices, production cuts persisted due to weak demand, subdued trades and rising costs. Meanwhile, Chinese vanadium pentoxide prices remained unchanged at RMB 85,000/t ($11,664/t) supported by balanced downstream demand.
Ferro titanium prices remain steady w-o-w
Ferro titanium (Ti: 70%, 10-50 mm) prices in India remained unchanged w-o-w at INR 350,000-360,000/t ($4,100-$4,217/t) exw. Prices held steady, as the market remained muted with no significant movements.
IEX spot prices rise w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 6.07/unit during the period from 20-26 April, going up from INR 4.7/ unit in the previous week.
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