- Silico manganese prices ease on muted offtake
- Ferro silicon faces headwinds from Bhutanese offers
Modest rise in ferro chrome prices
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices inched up by INR 500/t ($6/t) w-o-w, reaching INR 100,800/t ($1,171/t) ex-works Jajpur. The marginal increase was driven by reduced availability in the spot market. Market sentiment is cautiously optimistic, with upward pricing potential on the horizon. However, the trajectory will largely hinge on buyer response and overall market participation in the coming days.
Silico manganese prices slip slightly
Indian silico manganese prices (60-14) witnessed a slight decline of INR 300/t ($4/t) w-o-w to INR 71,200-71,900/t ($830-838/t) in the key regions of Durgapur, Raipur and Vizag. The price stability reflects softening demand in the steel segment, which kept alloy buyers cautious and market sentiment subdued. Meanwhile, export prices of the 65-16 grade declined by $19/t w-o-w to $913/t FOB Vizag/Haldia, India, amid limited inquiries.
MOIL reduced manganese ore prices effective 1 June, slashing ferro grades (above and below Mn 44%) by 5%, and SMGR grades (Mn 30%, Mn 25%) by 5–15%.
Additionally, on 5 June, Sandur Manganese and Iron Ore (SMIORE) conducted an auction for 25,704 t of manganese ore (fines and lumps, Mn 18-35%, -10 to 100 mm). Of the total quantity offered, only 8,568 t (33%) was successfully sold, with prices ranging between INR 2,520/t to INR 10,310/t. Consequently, around 17,136 t remained unsold.
Buyers resist higher ferro manganese offers
Indian ferro manganese (HC 70%) prices dropped by INR 400/t ($5/t) w-o-w to INR 72,100/t ($840/t) exw in Durgapur. Meanwhile, prices, exw-Raipur, also decreased by INR 550/t ($6/t) to INR 72,250/t ($842/t). Buyers pushed back against higher offers due to lacklustre demand, sufficient inventories, and weak market sentiment across regions.
Meanwhile, HC 75% ferro manganese prices also went down by $13/t w-o-w to $927/t FOB Vizag/Haldia.
Imported manganese ore market remains stable
Prices of imported manganese ore (Mn 37-46%) reflected mixed trends w-o-w across all grades. Mn44% from Gabon stood at $4.36/dry metric tonne unit (dmtu), down by $0.06/dmtu w-o-w, Mn37% from South Africa was assessed at $3.93/dmtu, up by $0.02/dmtu w-o-w, and Mn46% from Australia was at $4.67/dmtu CIF India, down by $0.06/dmtu.
Ferro silicon prices decline following Bhutan’s revision
Indian ferro silicon prices eased by INR 2,300/t ($27/t) w-o-w, settling at INR 92,000/t ($1,072/t) ex-works Guwahati. Concurrently, Bhutanese prices also softened by INR 2,900/t ($34/t) to INR 92,000/t ($1,072/t) ex-works. This decline followed Bhutan’s preliminary price announcement, which is intended as a market probe rather than a definitive monthly rate. Subsequent price revisions are expected, contingent on evolving market conditions and competitive strategies of other ferro silicon manufacturers.
Global momentum lifts ferro molybdenum prices
Indian ferro molybdenum prices rose by INR 55,000/t ($641/t) w-o-w to INR 2,655,000/t ($30,947/t) ex-works, buoyed by a revival in both domestic and international demand. The uptick reflects renewed buying interest across key sectors. Concurrently, prices on the London Metal Exchange (LME) climbed by $1.15/lb over the week to reach $21.61/lb, underscoring firm global sentiment and tightening availability in the molybdenum market.
Ferro vanadium prices extend gains
Indian ferro vanadium (FeV 50%) prices climbed by INR 11,700/t ($136/t) w-o-w to INR 1,095,700/t ($12,742/t) ex-Raipur, driven by constrained supply and subdued domestic production. Market participants report lower import volumes amid marginally higher global prices and logistical bottlenecks. Demand from the alloy and special steel sectors remains steady, while procurement challenges for vanadium pentoxide (V₂O₅) continue to restrict availability, underpinning the upward price trajectory.
Ferro titanium prices decline
Indian ferro titanium (Ti: 70%, 10–50 mm) prices softened by INR 5,000/t ($58/t) w-o-w, settling at INR 335,000/t ($3,905/t) ex-works India. The dip was largely attributed to tepid end-user demand, while overall market sentiment remained subdued. Thin trading volumes and cautious buyer engagement further dampened the tone, applying persistent downward pressure on prices.
IEX spot prices rise w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 3.68/unit during 1-7 June, up from INR 2.92/unit in the previous week.
Trade
Auction Notice
Auction Result
Leave a Reply