Manganese alloy prices in India continue to decline due to weak demand

Faced with sluggish buyer activity in all sales venues, Indian suppliers are forced to continue making concessions.

The quotation of Indian silicon manganese (65% Mn; 16% Si) decreased by an average of $20/ton on a weekly basis to $830-850/ton FOB, with feasible prices approaching the lower limit of this range. The quotation for alloy (60% Mn; 14% Si) has been reduced to $760-765/ton FOB (from $770-780/ton FOB a week ago), but some traders still refuse to make concessions. The quotation for high carbon ferromanganese (75% Mn) is $830-870 per ton FOB (the lower limit of the price range is reduced by $10 per ton).

Due to weak demand, Indian suppliers have lowered prices again. There is only a small amount of demand in the market, and most of it is in small quantities. However, some buyers enter the market only to test the waters and often do not reach a deal, hoping for further discounts.

However, many suppliers are unwilling to further reduce prices as production has reached unprofitable levels. A manufacturer shared his viewpoint in a conversation with Hainan West Asia Group: "Prices will remain stable as they are already below cost. However, some market participants do not rule out the possibility of further price reductions.