- Ferro chrome prices steady w-o-w post conclusion of auctions
- Silico manganese prices inch down on market discounts
Ferro chrome prices steady w-o-w post conclusion of auctions
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices remained unchanged w-o-w to INR 100,700/t ($1,151/t) exw-Jajpur. Prices remained steady following two key domestic auctions – for chrome ore from the Odisha Mining Corporation (OMC) and ferro chrome from Vedanta-FACOR.
At OMC’s chrome ore auction on 19 February, 37,100 t were booked out of the 84,500 t offered. Bids went up for some grades by 6-27% (INR 943-5,378/t), while for some, they decreased by 12-18% (INR 2,814-4,890/t) in comparison to the previous month’s auction. Premiums also went up by 5-42% (INR 800-8,900/t) over the base price.
Vedanta-FACOR’s ferro chrome auction was held on 24 February. The larger lot of 10-150 mm received an H1 price of INR 99,750/t ($1,143/t) exw, up by INR 550/t ($6/t) against the previous auction on 6 January.
Silico manganese prices edge down on rising production
Indian silico manganese prices were slightly down w-o-w by INR 250/t ($3/t) w-o-w to INR 72,500-73,600/t ($829-841/t) in key regions of Durgapur, Raipur and Vizag. The slight correction in prices can be seen because of the resumption in productions and market discounts.
Additionally, prices of the 65-16 grade also declined and stood at $959/t FOB Vizag/Haldia, India, down $16/t w-o-w.
However, MOIL has raised its manganese ore offers for Mar’25 by 10% for Mn>44% and by 6.5% for Mn<44%.
Ferro manganese prices remain unaltered on market steadiness
Indian ferro manganese (HC 70%) prices remained firm w-o-w and stood at INR 76,000/t ($869/t) exw in Durgapur. Meanwhie, prices exw-Raipur also remained unchaged at INR 76,000/t ($869/t). The price stability resulted from consistent market operations and subdued export demand, maintaining balance in the market without significant fluctuations or disruptions.
However, HC 75% ferro manganese prices went down by $14/t w-o-w to $963/t FOB Vizag/Haldia.
Imported manganese ore prices remain largely steady
Prices of imported manganese ore (Mn 37-46%) remains largely stable across grades. Mn44% from Gabon stood at $4.93/dry metric tonne per unit (dmtu), up by $0.03/dmtu. Mn37% from South Africa was assessed at $4.60/dmtu, down by $0.02/dmtu w-o-w and Mn46% from Australia was at $5.28/dmtu CIF India, rising by $0.04/dmtu.
Ferro silicon prices inches down on preference towards imported material
Indian ferro silicon prices diminished by INR 400/t ($5/t) w-o-w to INR 100,500/t ($1,149/t) exw-Guwahati. Prices also decreased by INR 600/t ($7/t) in Bhutan to INR 100,500/t ($1,149/t) exw. Prices fell, as buyers mostly preferred imported material, whose volumes surged, which led to lower inquiries in the domestic market.
Ferro molybdenum prices rise on positive LME movements
Indian ferro molybdenum prices increased by INR 77,000/t ($880/t) w-o-w to INR 2,637,000/t ($30,147/t) exw-India. Prices went up as some increase was seen in LME futures and inquiries for the material also increased in the latter part of the week.
Meanwhile, Prices on the London Metal Exchange (LME) increased slightly by $0.26/lb w-o-w to $20.75/lb.
Ferro vanadium prices inch up w-o-w
Indian ferro vanadium (FeV 50%) prices edged up w-o-w by INR 10,000/t ($114/t) to INR 1,100,000/t ($12,576/t) exw-Raipur. Ferro vanadium prices have risen marginally due to cost pressure. However, production cuts are increasing, and downstream demand remains weak, resulting in moderate buying interest.
IEX spot prices remain steady w-o-w
Electricity prices on the Indian Energy Exchange (IEX) remained stable at INR 4.39/unit during the period from 23 February – 1 March, going up from INR 4.33/ unit in the previous week.
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