India: Silico manganese export prices remain steady w-o-w on modest demand

• Limited trades seen amid stagnant market
  
  
• Imported ore prices rise, may lift SiMn tags
  
  

Indian silico manganese export prices were stable w-o-w amid modest demand. Minimal trading activity was observed amid a largely stagnant market.

As per BigMint's assessment on 27 January 2025, export prices of the 65-16 grade stood at $944/tonne (t) FOB, up by $4/t w-o-w, while the 60-14 variant inched down by $1/t w-o-w to $840/t FOB.

Confirmed deals (as per BigMint)

Factors influencing prices

Importers show modest demand: Demand from key importing countries such as Japan remained comparatively sluggish, while routine inquiries were observed from the MENA region, the UAE, Taiwan, and Indonesia. Overall, no bulk deals were observed this week, indicating a lack of significant market activity.

Prices of imported manganese ore, particularly those of South African-origin Mn:37%, edged up by $0.16/dry metric tonne unit (dmtu) w-o-w to $4.37/dmtu. This hike could raise production costs for silico manganese, potentially driving up export offers in the coming week.

Chinese market remains unchanged w-o-w: Chinese silico manganese (Mn: 65%, Si: 17%) prices remained firm w-o-w at RMB 6,030-6,430/t ($830-$885/t) exw, including taxes. The market remained stable, with cautious sentiment prevailing, and manufacturers reduced quotations. Manganese ore operations were steady, with no significant fluctuations amid moderate demand.

Outlook

Prices are expected to be range-bound in the near term, as demand from importing countries remains limited. However, rising prices of imported manganese ore may provide an upward push to offers in the coming weeks.