- Silico manganese prices decline following recent uptrend
- Ferro chrome prices largely stable on muted trading activity
India’s ferro alloys market displayed mixed trends in the week ended 10 April 2026, reflecting shifting demand patterns, inventory pressures, and fluctuating raw material costs.
Silico manganese prices retreat w-o-w after recent rally
Indian silico manganese (60-14) prices corrected downward after a sharp prior increase, declining by INR 525/t w-o-w to INR 84,600-85,900/t across key markets. The fall was primarily driven by abundant inventory availability and growing buyer resistance to elevated offer levels, prompting sellers to adjust quotes to stimulate transactions.
Meanwhile, HC 65-16 silico manganese export prices remained largely stable with a marginal $6/t increase to $985/t FOB Vizag/Haldia, supported by routine trade activity. However, export sentiment remained subdued due to slow inquiry levels.
The near-term outlook appears cautious, as mounting inventories and sustained production may trigger pressure selling and weigh on prices.
Ferro manganese prices continue to move up w-o-w
Indian ferro manganese (70%) prices increased w-o-w by INR 800/t ($57/t) to INR 86,800/t ($932/t) in Raipur, while they went up by INR 500/t ($5/t) to INR 86,500/t ($929/t) in Durgapur. Prices rose amid stronger raw material costs, firm export demand, and strong seller sentiment, which limited lower-priced deals. Meanwhile, export prices of the 75 grade saw a sharp increase of $38/t w-o-w to $1,006/t FOB Vizag/Haldia. However, export sentiment remained weak due to limited fresh inquiries, and the recent price rise may face downward pressure if booking activity does not improve.
Imported manganese ore prices increase w-o-w
Imported manganese ore prices increased w-o-w. Mn44% Gabon prices stood at $6/dmtu, up by $0.17/dmtu. Mn46% Australia at $6.42/dmtu, up by $0.18/dmtu, and Mn37% South Africa stood at $5.6/dmtu, up by $0.14/dmtu w-o-w.
Ferro chrome prices remain steady on limited market activity
Indian high-carbon ferro chrome (HC 60%, Si 4%) prices were mostly stable with a slight rise of INR 500/t ($3/t) to INR 117,500/t ($1,268/t) exw Jajpur. Prices were largely steady as market conditions stayed largely muted, with limited domestic buying. Sellers also remained relatively inactive owing to pending export and domestic deliveries for April.
Additionally, at Vedanta-FACOR’s ferro chrome auction on 8 April, the larger lot (Cr: 56% min, 10-150 mm) achieved an H1 price of INR 116,000/t ($1,253/t) exw, higher by INR 1,000/t ($11/t) from the base price of INR 115,000/t ($1,243/t).
Ferro silicon prices remain mostly steady post Bhutan’s price announcement
Indian ferro silicon (Si 70%) prices were unchanged w-o-w at INR 106,000/t ($1,144/t) exw Guwahati, while Bhutan prices also edged up by INR 1,000/t ($11/t) at INR 107,000/t ($1,149/t). Following Bhutan’s announcement of April ferro silicon offers at INR 106,000/t ($1,140/t) exw, sellers across Bhutan and Northeast India aligned their quotations. Steady buying interest in the market supported price stability and enabled sellers to maintain firm offers.
Noble alloys prices reflect mixed trends w-o-w
Indian ferro molybdenum prices rose by INR 32,000/t ($345/t) w-o-w to INR 3,600,000/t ($38,664/t) exw. Prices went up due to strong domestic demand and a rise in global offers.
Indian ferro vanadium prices increased by INR 14,000/t ($15/t) to INR 1,400,000/t ($15,000/t) ex-works Raipur. Prices trended upward, supported by elevated raw material costs and improving steel demand, while tight supply conditions and firm producer sentiment continued to reinforce the bullish market trajectory.
Indian ferro titanium (Ti:70%, 10-50 mm) prices remained steady w-o-w at INR 330,000/t ($3,586/t) exw. The market continued to exhibit balanced fundamentals, supported by stable supply conditions and consistent demand from the steel sector. Trading activity remained limited, with no significant changes in market sentiment observed.
IEX spot prices decrease w-o-w
Electricity prices on the Indian Energy Exchange (IEX) averaged INR 3.13/unit during 5-11 April 2026, down from INR 4.84/unit in the previous week.
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