India: Silico manganese prices rise w-o-w on bulk bookings, improved domestic demand

• Limited availability, strong order inflow keep market bullish
  
  
• Strong export realisations support domestic prices
  
  

Domestic silico manganese prices strengthened in the assessment week ending 9 June 2026, driven by improved buying interest and a series of bulk transactions concluded at elevated levels. Increased inquiries from traders and steel mills for large-volume bookings supported the upward price movement, while a few sizeable deals established higher benchmark rates for the broader market. Sellers also reported securing substantial volumes at elevated prices, reducing spot availability, with bookings extending into July and mid-August 2026.

As per BigMint's assessment, domestic silico manganese prices increased across key markets. Raipur prices rose by INR 800/t ($7/t) w-o-w to INR 76,000/t exw ($796/t), while in Vizag prices rose by INR 800/t ($6/t) to INR 75,200/t ($789/t). Durgapur recorded an increase of INR 700/t ($6/t) to INR 75,400/t ($792/t), and Raigarh prices edged up by INR 800/t ($4/t) to INR 75,100/t ($788/t).

Confirmed deals (as per BigMint)

Factors supporting prices

Tight spot supply, strong forward bookings lift prices: On the supply side, several producers have secured sufficient order volumes at improved prices, resulting in limited spot availability. With many smelters booked through July and, in some cases, up to mid-August 2026, sellers have gained greater pricing power and have largely withdrawn from the spot market. Current spot offers are around INR 76,500/t ex-works Raipur, while producers with forward bookings for the quarter are holding firm at higher levels of INR 77,000-78,000/t ex-works Raipur. The tightening spot supply, coupled with healthy order books, has reinforced bullish sentiment and supported the recent uptrend in domestic silico manganese prices.

Bulk bookings and firm export inquiries push prices: Indian silico manganese export prices strengthened w-o-w, supported by improving demand from Bangladesh, Southeast Asia, and Europe. As per BigMint, 65-16 grade prices rose by $8/t to $912/t FOB, while 60-14 grade gained $15/t to $819/t FOB Haldia/Vizag. Bulk bookings increased amid tightening availability and higher dollar-denominated raw material costs, which offset lower benchmark ore prices. Strong export demand and limited supply reinforced bullish sentiment, with higher export realizations also lending support to the domestic market.

Outlook

Domestic silico manganese prices are expected to remain firm with an upward bias, supported by robust export demand, healthy forward bookings, and tight spot availability. While monsoon-related seasonality and cautious steel mill procurement may limit aggressive buying, steady steel output and elevated raw material costs are likely to restrict downside and maintain a positive sentiment.