- Ferro chrome prices edge up, but mostly stable
- Silico manganese dip as buyers resist higher offers
Ferro chrome prices inch up w-o-w on routine trades
Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices edged up by INR 900/t ($10/t) w-o-w to INR 101,600/t ($1,166/t) exw-Jajpur. Prices were stable, as not much variation was seen in bids and offers, and the market witnessed regular trades.
Additionally, at Vedanta-FACOR’s ferro chrome auction yesterday, the larger lot of 10-150 mm fetched an H1 price of INR 100,000/t exw, same as the base price. A slight hike of INR 250/t was seen from the previous auction on 24 Feb’25.
Silico manganese prices edge down in cautious market
Indian silico manganese prices were slightly down w-o-w by INR 600/t ($7/t) to INR 71,600-73,300/t ($822-838/t) in the key regions of Durgapur, Raipur and Vizag. The slight decline in prices can be an outcome of resistance from buyers to higher quotes, leading to limited price movement and cautious market behaviour.
Additionally, prices of the 65-16 grade also inched down to $956/t FOB Vizag/Haldia, India, down $3/t w-o-w.
Ferro manganese prices dip amid need-based purchases
Indian ferro manganese (HC 70%) prices inched down w-o-w to INR 75,700/t ($869/t) exw in Durgapur. Meanwhile, prices exw-Raipur, also dropped by INR 400/t ($5/t) to INR 75,600/t ($867/t). Prices fell due to buyers’ reluctance towards higher offers.
However, HC 75% ferro manganese prices went down by $5/t w-o-w to $958/t FOB Vizag/Haldia.
Imported manganese ore prices remain largely stable
Prices of imported manganese ore (Mn 37-46%) remained largely steady across grades. Mn44% from Gabon stood at $4.94/dry metric tonne per unit (dmtu), up by $0.01/dmtu. Mn37% from South Africa was assessed at $4.57/dmtu, down by $0.03/dmtu w-o-w and Mn46% from Australia was at $5.29/dmtu CIF India, rising by $0.01/dmtu.
Additionally, Jupiter Mines Limited has set the Apr’25 shipment price for Mn36.5% semi-carbonate lumps at $4.45/dmtu CIF China, a $0.35/dmtu increase m-o-m.
Ferro silicon edges down post-Bhutan’s price announcement
Indian ferro silicon prices inched down by INR 900/t ($10/t) w-o-w to INR 99,600/t ($1,143/t) exw-Guwahati. Prices also dropped by INR 700/t ($8/t) in Bhutan to INR 99,800/t ($1,145/t) exw. Prices edged down as sellers aligned their offers with Bhutan’s March prices of INR 100,000/t ($1,147/t) exw.
Ferro molybdenum prices remain steady w-o-w
Indian ferro molybdenum prices remained largely stable with a slight decline of INR 1,000/t ($11/t) w-o-w to INR 2,636,000/t ($30,247/t) exw-India. Stability in supply-demand dynamics and London Metal Exchange (LME) futures prices were the key factors influencing Indian offers this week.
Meanwhile, prices on the London Metal Exchange (LME) edged up slightly by $0.11/lb w-o-w to $20.86/lb.
Ferro vanadium prices remain firm w-o-w
Indian ferro vanadium (FeV 50%) prices were unchanged w-o-w at INR 1,100,000/t ($12,622/t) exw-Raipur. Weak downstream demand caused hesitation in procurement, despite moderate mill demand. Minor declines in steel prices negatively impacted market sentiment, resulting in low confidence in the ferro vanadium market, characterised by limited inquiries and ongoing price depression.
IEX spot prices up w-o-w
Electricity prices on the Indian Energy Exchange (IEX) stood at INR 4.73/unit during the period from 2 March – 8 March, going up from INR 4.39/ unit in the previous week.
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