Manganese alloy prices soar in India

Indian manganese alloy suppliers have rapidly raised alloy prices to record levels in several years due to tighter raw material supplies. However, the market is oversaturated with speculation and buyers are in no rush to seal a deal.
Indian silicomanganese (65% Mn; 16% Si) export quotations increased by an average of US$170/ton week-on-week to US$1,100-1,200/ton FOB. Alloy (60% Mn; 14% Si) is quoted at US$1,080-1,150/ton FOB (previously US$870-890/ton FOB). The price of high carbon ferromanganese (75% Mn) has increased more significantly, reaching US$1,200-1,250/ton FOB (previously US$965-990/ton FOB). That's despite the fact that these prices have reached a two-year high.
The main reason for the price increase is the increase in quotations from major manganese ore producers in May. According to West Asia, prices have increased by at least 25%, and high-grade raw materials have increased by 40% month-on-month. Market feedback has mixed views on the development of the situation. Some suppliers think buyers will accept the price increase, while others are less optimistic.
Meanwhile, Indian suppliers have increased prices in the domestic market. The price of silicon manganese (60% Mn; 14% Si) increased by an average of 19,250 rupees/ton week-on-week to 9-93,000 rupees/ton (1078-1114 US dollars/ton), and the price of high carbon ferromanganese (70% Mn) increased by 21,000 rupees. Rupee/ton to 93,000-94,000 Rupees/ton (1114-1126 US dollars/ton).

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