- OMC auction in focus, ferro chrome prices stable w-o-w
- Silico manganese prices slip after sustained uptrend
Indian ferro alloys prices remained under pressure this week due to subdued trading activity, except for ferro molybdenum, which rose to a two-year high.
Ferro chrome prices steady w-o-w, market eyes OMC auction
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices were largely stable w-o-w at INR 99,600/t ($1,156/t) exw-Jajpur. Prices remained stable amid a quiet market, with attention focused on today’s Odisha Mining Corporation (OMC) chrome ore auction.
OMC has scheduled an auction for 73,100 t of chrome ore today, with the offered quantity reduced by 2,900 t m-o-m. Meanwhile, base prices of all grades were reduced marginally by 1% (INR 10-297/t).
Silico manganese prices edge lower following month-long rally
Indian silico manganese prices (60-14) edged down by INR 350/t ($4/t) w-o-w to INR 72,400-73,000/t ($840-847/t) in the key regions of Durgapur, Raipur, and Vizag. The price decline was mainly driven by weakening demand and a drop in steel prices, both of which have significantly influenced overall pricing dynamics.
However, export prices of the 65-16 grade went up by $9/t w-o-w to $940/t FOB Vizag/Haldia, India.
Ferro manganese prices dip on cautious purchases
Indian ferro manganese (HC 70%) prices fell by INR 750/t ($9/t) w-o-w to INR 71,150/t ($826/t) exw in Durgapur. Meanwhile, prices, exw-Raipur, also dropped by INR 1,100/t ($13/t) to INR 71,100/t ($825/t). Need-based purchasing and subdued demand continued to weigh on ferro manganese prices.
Additionally, HC 75% ferro manganese prices dropped by $10/t w-o-w to $908/t FOB Vizag/Haldia.
Imported manganese ore prices remain stable w-o-w
Prices of imported manganese ore (Mn 37-46%) remained mostly stable w-o-w across all grades. Mn44% from Gabon stood at $4.30/dry metric tonne unit (dmtu), unchanged; Mn37% from South Africa was assessed at $4.05/dmtu, up by $0.02/dmtu; and Mn46% from Australia was at $4.65/dmtu CIF India, unaltered w-o-w.
Additionally, United Manganese of Kalahari (UMK), a leading global manganese ore producer based in South Africa, set offers for its 36% grade semi-carbonate lumps at $3.9/dmtu CIF China for Aug’25 deliveries, up by $0.05/dmtu m-o-m.
Ferro silicon prices continue to face downward pressure
Indian ferro silicon prices declined by INR 1,100/t ($13/t) w-o-w to INR 85,700/t ($994/t) exw-Guwahati. Meanwhile, Bhutanese prices decreased by INR 700/t ($8/t) to INR 86,300/t ($1,001/t) exw. The market remained sluggish, with limited activity as sellers reduced their offers and buyers showed resistance towards higher prices. The downward pressure was further reinforced by existing stock levels of previously imported ferro silicon cargoes.
Ferro molybdenum hits near 2-year high on supply tightness
Indian ferro molybdenum prices increased by INR 40,000/t ($464/t) w-o-w to INR 2,850,000/t ($33,082/t) exw. Prices climbed to their highest level since September 2023, driven by ongoing shortages of molybdenum oxide. On the London Metal Exchange (LME), prices remained mostly stable, edging up by $0.76/lb w-o-w to $22.98/lb.
Ferro vanadium dips w-o-w on weak steel demand
Indian ferro vanadium (FeV 50%) prices slipped by INR 6,000/t ($70/t) w-o-w to INR 1,077,000/t ($12,501/t) ex-Raipur, pressured by weak steel sector demand amid seasonal construction lulls. As steel mills cut prices, alloy producers grappled with tighter margins and rising cost pressures. A producer pointed to lower purchase volumes and increasing challenges in sustaining profitability under current market conditions.
Ferro titanium prices hold steady w-o-w
Ferro titanium (Ti: 70%, 10-50 mm) prices remained unchanged w-o-w at INR 340,000/t ($3,947/t) ex-works India. The market maintained a stable tone, underpinned by balanced supply-demand dynamics and subdued spot trading. Overall sentiment showed no notable shifts during the period.
IEX spot prices rise w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 4.86/unit during 12-19 July, up from INR 4.3/unit in the previous week.
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