- Ferro chrome prices continue downward trend
- Ferro silicon prices stable, market awaits Bhutan offers
Ferro chrome prices inch down w-o-w
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices edged down by INR 600/t ($7/t) w-o-w at INR 97,600/t ($1,127/t) exw-Jajpur. Prices edged down amid cautious sentiments in the market as most buyers and sellers adopted a wait-and-watch approach.
Meanwhile, India’s prices of 304-grade stainless steel hot-rolled coils (HRCs) fell slightly by INR 1,000/t ($12/t) w-o-w to INR 179,000/t ($2,068/t) exw-Mumbai.
Silico manganese prices rise w-o-w
Indian silico manganese prices increased by INR 1,100/t ($13/t) w-o-w to INR 70,500-71,400/t ($814-825/t) in key regions of Durgapur, Raipur and Vizag. Prices have risen due to concerns over global manganese ore supply, increasing ore prices, and rising steel prices, contributing to an upward trend in the domestic market.
Additionally, prices of 65-16 stood at $950/t FOB Vizag/Haldia, India, up $6/t w-o-w.
Ferro manganese continues to move up on output curbs
Indian ferro manganese (HC 70%) prices went up by INR 1,600/t ($18/t) to INR 74,500/t ($861/t) exw in Raipur and Durgapur. Prices increased w-o-w as most smelters in key producing regions reduced production, tightening supply and contributing to the upward trend in domestic ferro manganese prices.
Meanwhile, HC 75% ferro manganese prices also went up by $11/t w-o-w to $957/t FOB Vizag/Haldia.
Imported manganese ore prices edge up
Prices of imported manganese ore (Mn 37-46%) inched up for two of its grades, while one remained unchanged w-o-w. Mn44% from Gabon stood at $4.48/dry metric tonne per unit (dmtu), up by $0.02/dmtu. Mn37% from South Africa was at $4.37/dmtu, unaltered w-o-w and Mn46% from Australia, at $4.79/dmtu CIF India, rising by $0.18/dmtu.
Cargo arrivals for all the three grades decreased by 33% w-o-w.
Ferro silicon prices remain stable, market awaits Bhutan’s offers
Indian ferro silicon prices remained largely stable, slightly up by INR 100/t ($1/t) w-o-w to INR 102,200/t ($1,181/t) exw-Guwahati . Prices were stable in Bhutan too at INR 102,100/t ($1,179/t) exw. The market remained largely silent last week, reflected by the limited trades observed. Bhutan’s offers for February will help provide further clarity on prices.
Ferro molybdenum prices remain largely stable
Indian ferro molybdenum prices were largely stable with a slight rise of INR 20,600/t ($238/t) w-o-w to INR 2,522,500/t ($29,139/t) exw-India. There wasn’t much of a deviation in prices as the market was steady and regular trading activities were being carried out.
However, On the London Metal Exchange (LME) platform, prices went down slightly by $0.56/lb w-o-w to $20.33/lb.
Ferro vanadium prices remain stable
Indian ferro vanadium (FeV 50%) prices dropped w-o-w by INR 9,750/t ($113/t) to INR 1,076,250/t ($12,433/t) exw-Raipur. The ferro vanadium market is stagnant, with low prices and minimal trading activity. Supply and demand are inactive, as participants adopt a wait-and-see approach, causing market uncertainty and price stability.
IEX spot prices edge down w-o-w
Electricity prices on the Indian Energy Exchange (IEX) inched down to INR 4.28/unit during the period from 26-31 January 2025, falling from INR 4.42/ unit in the previous week, reflecting a 3% w-o-w decrease.
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