India: Manganese Alloy Prices Shows Mixed Trend

Indian Silico Manganese prices remain relatively unchanged while Ferro Manganese edges up.

With the rise in raw material cost coupled with moderate demand, Silico Manganese producers have kept offer prices firm. "A bullish sentiment has been observed in the market with the demand-supply dynamics for the commodity has stabilized eventually despite continued restricted production", said a source referring to the current trend of the Silico Manganese.

Silico Manganese offers are assessed to be unchanged at INR 69,000-70,000/MT (ex-Durgapur), INR 68,000-69,000/MT (ex-Raipur) and INR 67,000-68,000/MT (ex-Vizag).

On the other hand, demand for Ferro Manganese has been a little lower than the expectation as stainless-steel producers are preferring imported fines over the high-grade Ferro Manganese, as mentioned by a source.

However, expensive raw material has added significantly to the production cost of Ferro Manganese, therefore compelling the sellers to raise their offers.

SteelMint has assessed Ferro Manganese prices at INR 76,000/MT (ex-Raipur) and (ex-Durgapur).

The export market for Silico Manganese has been encouraging as well. Demand from the Asian countries has been constant with its prices being firm at USD 960/MT FOB India for 60-14 grade and USD 1080 FOB India for 65-16 grade.

Overseas inquiries for Ferro Manganese have been modest as well with its price being unchanged at USD 1050/MT FOB India for 70% grade and USD 1150/MT FOB India for 75% grade.

On the future outlook, market participants are bullish on Silico Manganese prices with steel production and consumption expected to rise in Q3, while expecting the Ferro Manganese prices to remain stable.