Indian manganese alloy producers are gradually reducing production

Indian manganese alloy manufacturers are forced to cut production due to lack of profitability, leading to a reversal of price trends in all markets. Export quotations of Indian origin silicomanganese (65%Mn; 16%Si) have increased by an average of $10/t to $970-1000/t FOB, while higher quotations have been announced in the market, up to $1030/t FOB. Alloy (60%Mn; 14%Si) quotations have increased by $15/t to $850-860/t FOB. High carbon ferromanganese (75%Mn) prices have increased by $20/t to $1010-1030/t FOB. Although purchasing activities remain sluggish, suppliers have taken measures to reverse the price trend, citing high production costs and reduced future alloy supplies. Against the backdrop of unfavorable market conditions and high manganese ore costs, the market was shaken by news that local producers plan to significantly cut capacity utilization in August. Large Indian producers plan to reduce alloy production by 30-50% this month, while small and medium-sized producers plan to reduce by 15-25% until producer margins recover. In addition, according to unconfirmed news, electricity prices in Chhattisgarh have increased, which has also put pressure on local producers. A similar situation has occurred in the domestic market, with the average quoted price of silicon manganese (60% Mn; 14% Si) rising by 1,250 rupees/ton to 69,000-72,000 rupees/ton (824-860 US dollars/ton) EXW.

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