India: Medium-carbon silico manganese prices decline on weak demand

• Weak steel demand continues to pressure market
  
  
• Cautious buying and oversupply weigh on prices
  
  

Indian medium-carbon silico manganese (Mn 53%, Si 20%, C maximum 0.5%) prices dropped by INR 1,900/t ($20/t) w-o-w to INR 89,600/t ($935/t) exw-Durgapur on 14 May. The downturn was primarily driven by weak demand and need based purchases.

Prices declined as downstream steel demand weakened further, with end-users limiting procurement to immediate requirements. Ample finished alloy availability, cautious sentiment, and lack of fresh export support intensified selling pressure, driving overall weakness. Offers were at INR 89,200-90,600/t ($930-945/t), with 550 t sold at INR 88,700/t ($925/t).

Imported manganese ore sentiment softens: Imported manganese ore prices softened marginally as persistent weakness in manganese alloy markets since late April reduced smelter buying interest. Subdued downstream demand, falling alloy realizations, and cautious procurement led global miners to trim June shipment offers, reflecting broader value chain pressure.

Australian Mn 46% ore declined $0.05/dmtu w-o-w to $6.45/dmtu CNF Haldia/Vizag, while Gabonese Mn 44% material fell $0.10/dmtu to $6/dmtu CNF, tracking weaker sentiment in the imported ore market.

Outlook

Prices may remain under pressure in near term amid weak steel demand, cautious buying, and continued softness in alloy and ore markets.