Indian manganese alloy sellers continue to cut prices due to lack of deals

Faced with extremely low business activity in all markets, Indian suppliers are forced to continue to make concessions. In addition, market forecasts for the near term are disappointing.
Indian silicomanganese (65%Mn; 16%Si) export quotations fell by $50/tonne week-on-week to $1030-1040/tonne FOB. Alloy (60%Mn; 14%Si) quotations fell by an average of $23/tonne to $890-900/tonne FOB. High carbon ferromanganese (75%Mn) quotations were $1040-1050/tonne FOB (down $63/tonne). Indian manganese alloy sellers continue to reduce prices due to few inquiries and continued pressure from buyers on quotations. In addition, lack of working capital forces local sellers to offer discounts to attract customers.
Let's recall that a week ago, after the news of the large-scale suspension of manganese alloy production in Zambia, many Indian traders believed that prices would stabilize or even resume growth due to reduced supply. However, buyers did not respond appropriately, so Indian sellers agreed that prices may continue to fall.
The situation in the Indian domestic market also remains unfavorable. Due to the low sales volume, the price of silicomanganese (60%Mn; 14%Si) fell by an average of 3,500 rupees/ton and is currently quoted at 70,000-71,000 rupees/ton (838-850 US dollars/ton); the price of ferromanganese (70%Mn) fell by 5,000 rupees/ton to 77,500-78,500 rupees/ton (927-939 US dollars/ton).

Request a Quote

We receive enquiries in English, Español (Spanish), Français (French) and العربية (Arabic).Our professional team will reply to you within one business day.Please feel free to contact us!