Manganese alloy surges in India

Indian suppliers are trying to increase their offers for manganese alloys, citing rising manganese ore prices. However, buyers are yet to accept the new price.

The quotations of Indian silicomanganese (65% Mn; 16% Si) to foreign buyers increased from US$890-920/ton FOB to US$920-960/ton FOB. Alloy (60%Mn; 14%Si) prices rose to US$830-860/ton FOB (an average increase of US$40/ton from a week ago). The price of high carbon ferromanganese (75%Mn) is US$900-940/ton FOB (previously US$890-910/ton FOB).

The main reason for the price increase is that major foreign and Indian manganese ore producers have increased their quotations for April-May shipments. Meanwhile, Hainan Xia understands that buyers are in no hurry to accept the new price for the alloy. Most exporters surveyed said no deals had been concluded in recent days, but there had been a small number of inquiries from all major destinations. One trader commented: "Market demand is emerging, but buyers are not ready for such a drastic price change. The price increase is due to real factors of rising manganese ore prices, so once the current offer is accepted, the transaction will Get started."

In the Indian domestic market, prices continue to rise, supported by local consumer demand. The price of silicon manganese (60% Mn; 14% Si) increased by an average of 2,000 rupees/ton this week to 67,000-69,500 rupees/ton (803-833 US dollars/ton) EXW. High carbon ferromanganese (70% Mn) is quoted at 67,500-70,000 rupees/ton ($809-840/ton) EXW.

For more information on ferroalloy price trends and market conditions, please contact Hainan West Asia Group.