- Manganese alloys gain support from tighter spot availability
- Ferro chrome prices hold amid resilient market fundamentals
Silico manganese prices gain support as bookings tighten availability
Silico manganese prices rose by INR 925/t ($10/t) to INR 74,100-74,600/t ($777-782/t) across key regions. The recent uptick in buying interest, coupled with limited spot availability, has strengthened sellers bargaining power. Key producers are reportedly holding substantial bookings through mid-September 2026, further limiting near-term availability.
Export offers for 65-16 grades stayed unchanged at $886/t FOB Vizag/Haldia.
Ferro manganese prices sees improvement w-o-w
Ferro manganese prices rose by INR 800/t ($8/t) w-o-w to INR 79,000-79,100/t ($828-828/t) exw in Durgapur and Raipur. Improved domestic procurement and reduced availability of prompt material supported the price increase, allowing sellers to hold offers at higher levels.
Manganese ore prices drop w-o-w
Imported manganese ore prices remained decreasedw-o-w. Australian Mn46% was assessed at $5.12/dmtu, down by $0.16/dmtu, while Gabonese Mn44% stood at $4.82/dmtu, down by $0.19/dmtu and South African Mn37% at $4.22/dmtu, down by $0.06/dmtu.
Additionally, Eramet Comilog cut its October 2026 manganese ore offers to China by $0.20/dmtu m-o-m to $4.70/dmtu for 44.5% Mn lump and $4.50/dmtu for 43% Mn chips. The reduction reflected cautious Chinese procurement and ample seaborne availability, signalling continued pressure on manganese ore prices as buyers remained reluctant to commit amid comfortable supply.
Moreover, South32 cut its October 2026 manganese ore offers by $0.30/dmtu for South African 37% ore and $0.23/dmtu for Australian 42% ore.
Ferro chrome prices remain firm on market stability
Ferro chrome prices stayed unchanged to INR 119,000/t ($1,247/t) exw-Jajpur. Despite lower bids at the recent Vedanta-FACOR auction, sellers largely maintained firm spot offers, supported by a rise in met coke. At Vedanta-FACOR’s ferro chrome auction on 25 August, the entire offered quantity was sold. The H1 price for the Cr:57% min lumps was INR 117,600/t ($1,231/t) exw, INR 600/t ($6/t) above the base price but INR 2,250/t ($24/t) below the previous auction on 12 August. However, spot offers remained above INR 118,500/t ($1,240/t) exw, particularly for Cr:60% material.
Additionally, OMC is also scheduled to auction around 1,900 t of high-carbon ferro chrome across various grades and sizes on 29 August. The base price for the primary 100 t lot of Cr:6064% material has been set at INR 119,000/t ($1,246/t) exw.
A key development in the market was IMFA’s commencement of hot-metal tapping at its Kalinganagar ferro-chrome project, with commissioning of the second furnace scheduled for September 2026. Once operational, the project is expected to raise the company’s FY27 ferro-chrome capacity to 484,000 t/year.
Ferro silicon prices remained mostly stable w-o-w
Ferro silicon prices remained mostly steady with slight decrease by INR 600/t ($6/t) w-o-w at INR 87,000/t ($912/t) in Guwahati and INR 87,100/t ($913/t) in Bhutan.Trading activity remained stable amid broadly balanced supply and demand, while most sellers were already booked, limiting material available for fresh spot sales.
Noble alloy prices show mixed market trends w-o-w
Indian ferro molybdenum prices remained unchanged w-o-w at INR 4,359,000/t ($45,772/t) ex-works. Firm global prices, particularly in China, and tight availability of molybdenum oxide continued to support domestic price levels. However, elevated FeMo prices kept buyers cautious, with participants largely limiting purchases to immediate requirements, resulting in muted spot activity during the week.
India’s ferro titanium prices rose by INR 5,000/t ($52/t) w-o-w to INR 370,000/t ($3,874/t) ex-works, supported by steady domestic demand and elevated titanium scrap costs. Firm stainless steel demand, tight scrap availability and higher freight costs also supported domestic prices by reducing import attractiveness.
Indian ferro vanadium (FeV 50%) prices declined sharply by INR 89,000/t ($933/t)w-o-w to INR 1,296,000/t ($13,597/t). The correction was driven by heightened buyer resistance, weaker spot liquidity and cautious procurement from the special steel sector, while softer global vanadium sentiment further pressured domestic price levels.
IEX: Spot prices increase w-o-w
Electricity prices on the Indian Energy Exchange (IEX) averaged INR 6.42/unit during 23-29 August 2026, rising from INR 4.408/unit in the previous week.
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