- Silico manganese slightly up amid weak steel demand
- South 32 hikes manganese ore prices for Jul’25
Ferro chrome prices firm amid limited trades
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices remained unchanged w-o-w at INR 100,300/t ($1,172/t) exw-Jajpur. Following the OMC auction on 19 May and rising chrome ore prices, many domestic sellers, especially those without captive sources, maintained their offers. This cautious stance persisted throughout last week, reflecting ongoing market uncertainty.
Silico manganese inches up despite sluggish steel demand
Indian silico manganese prices witnessed a slight rise of INR 200/t ($2/t) w-o-w to INR 71,500-72,200/t ($836-844/t) in the key regions of Durgapur, Raipur and Vizag. Prices rose mainly due to limited supply, despite subdued downstream demand. Market participants expect stability to persist as availability tightens. Attention is now focused on MOIL’s anticipated manganese ore price revision for June 2025, which may influence market direction.
Meanwhile, export prices of the 65-16 grade were largely stable, inching up by $2/t w-o-w to $932/t FOB Vizag/Haldia, India, amid limited inquiries.
Ferro manganese sellers resist lowering of offers
Indian ferro manganese (HC 70%) prices increased by INR 200/t ($2/t) w-o-w to INR 72,500/t ($847/t) exw in Durgapur. Meanwhile, prices, exw-Raipur, also rose by INR 500/t ($6/t) to INR 72,800/t ($851/t). Due to persistent supply shortages and production cuts, producers resisted cutting prices, pushing them higher.
Additionally, HC 75% ferro manganese prices also went up by $5/t w-o-w to $940/t FOB Vizag/Haldia.
Imported manganese ore edges down w-o-w
Prices of imported manganese ore (Mn 37-46%) inched down w-o-w across all grades. Mn44% from Gabon stood at $4.42/dry metric tonne unit (dmtu), down by $0.07/dmtu w-o-w, Mn37% from South Africa was assessed at $3.91/dmtu, down by $0.11/dmtu w-o-w, and Mn46% from Australia was at $4.73/dmtu CIF India, down by $0.07/dmtu.
However, South32, a prominent global mining company, has announced a price hike for its 37% grade South African semi-carbonated manganese ore lumps for July shipments. Prices have edged up by $0.05/dmtu m-o-m to $3.85/dmtu CIF China.
Ferro silicon firm on limited inquiries; June offers awaited
Indian ferro silicon prices were mostly stable with a slight rise of INR 200/t ($2/t) w-o-w to INR 94,300/t ($1,102/t) exw-Guwahati. However, prices in Bhutan stood at INR 94,900/t ($1,109/t) exw, down by INR 100/t ($1/t). Prices remained stable due to low inquiries, with most market participants awaiting next month’s price announcement from Bhutan.
Ferro molybdenum hits 1-month high on global price push
Indian ferro molybdenum prices increased by INR 47,000/t ($549/t) w-o-w to INR 2,600,000/t ($30,387/t) exw. Prices increased due to higher imported molybdenum oxide costs, driven by strong demand and rising prices in global markets. Meanwhile, on the London Metal Exchange (LME) platform, prices inched up by $0.59/lb w-o-w to $20.46/lb w-o-w.
Ferro vanadium prices rise as raw material costs surge
Indian ferro vanadium (FeV 50%) prices rose by INR 15,000/t ($175/t) w-o-w to INR 1,084,000/t ($12,650/t) ex-Raipur, prompted by higher vanadium pentoxide costs. Though demand remained steady, rising input costs forced sellers to increase offers. Meanwhile, Chinese vanadium (V: 50%) prices dipped by RMB 1,000/t ($139/t) to RMB 84,000/t ($11,660/t) due to oversupply concerns in the market.
Ferro titanium steady on market stability
Indian ferro titanium (Ti: 70%, 10-50 mm) prices stayed largely steady this week, slipping slightly by INR 1,500/t to INR 340,000/t exw-India. Market activity was limited, demand remained consistent, and overall sentiment showed minimal change.
IEX spot prices drop w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 2.92/unit during 25-31 May, down from INR 4.13/unit in the previous week.
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