India: Silico manganese export prices gain w-o-w as buyers step up bulk purchases

• Rising demand from Bangladesh, SE Asia, Europe lifts prices
  
  
• Stronger USD offsets ore price cuts, supports export price rally
  
  

Indian silico manganese export prices strengthened w-o-w, supported by improving demand for Indian material from Bangladesh, Southeast Asia, and Europe. Despite the recent decline in imported manganese ore prices, export offers remained firm, indicating that demand-side factors outweighed the benefit of lower raw material costs. As per BigMint, 65-16 grade prices rose by $8/t w-o-w to $912/t FOB, while 60-14 grade gained $15/t to $819/t FOB, Haldia/Vizag.

Confirmed deals (as per BigMint)

Factor supporting export prices

Stronger USD offsets ore price cuts, supports export price rally: Buyers stepped up bulk bookings amid concerns over tightening availability and the possibility of higher alloy prices, as the cost of imported raw materials has risen due to a stronger US dollar, despite recent price cuts by major manganese ore miners. The increase in dollar-denominated procurement costs has offset the impact of lower benchmark ore prices, supporting bullish sentiment.

Furthermore, demand has strengthened across multiple regions, with rising inquiries from Bangladesh and Southeast Asia, alongside fresh buying interest emerging from Europe. This broad-based uptick in global demand has added significant momentum to the ongoing price rally, reinforcing bullish market sentiment and pushing alloy export prices to elevated levels amid an already tight supply environment.

Pre-monsoon restocking lends support to export prices: Overseas market participants have begun building inventories ahead of the onset of the monsoon season in India from mid-July, when logistics disruptions and lower operational efficiencies typically constrain supplies. Anticipating tighter availability, overseas buyers have accelerated bulk purchases at elevated price levels to ensure uninterrupted alloy supplies, providing further support to export prices.

Outlook

Silico manganese export prices are expected to remain firm in the near term, supported by pre-monsoon inventory build-up and healthy demand from Bangladesh, Southeast Asia, and Europe. Higher dollar-denominated raw material costs are likely to limit downside, while subdued global steel sentiment may cap further upside

.