Weekly round-up: Indian ferro alloys market reflects mixed trends w-o-w amid cautious sentiment

• Silico manganese prices decline amid weak demand
  
  
• Ferro chrome prices remain stable on limited activity
  
  

Indias ferro alloys market showed mixed trends in the week ended 25 April 2026, with prices largely moving in line with weak steel demand and cautious buying activity. Silico manganese and ferro manganese prices declined amid ample supply and limited offtake, while ferro chrome and ferro silicon remained broadly stable due to restricted participation and controlled supply.

Silico manganese prices continue to drop on subdued market activity

Indian silico manganese (60-14) prices corrected by INR 2,750/t ($29/t) w-o-w to INR 80,200-81,200/t ($851-862/t) across key markets. Prices declined due to weak demand, ample inventories, competitive trader offers, discounted spot cargoes, and limited buying interest at higher price levels.

Meanwhile, HC 65-16 silico manganese export prices declined by $30/t to $937/t FOB Vizag/Haldia.

Ferro manganese prices fall on poor demand

Indian ferro manganese (70%) prices fell w-o-w by INR 1,800/t ($22/t) to INR 83,000/t ($881/t) in Raipur and by INR 1,900/t ($20/t) to INR 82,800/t ($879/t) in Durgapur. The price decline is attributed to persistently weak demand coupled with an oversupplied market, exerting sustained downward pressure on prices.

Meanwhile, export prices for the 75% grade dropped sharply by $37/t w-o-w to $945/t FOB Vizag/Haldia amid limited fresh inquiries.

Imported manganese ore prices remain mostly steady w-o-w

Imported manganese ore prices reflected largely stable trends w-o-w. Gabonese Mn44% prices stood at $6.14/dmtu, up by $0.04/dmtu. Australian Mn46% was at $6.56/dmtu, up by $0.06/dmtu, and South African Mn37% stood at $5.52/dmtu, unchanged w-o-w.

Ferro chrome prices remain largely stable w-o-w

Indian high-carbon ferro chrome (HC 60%, Si 4%) prices were at INR 118,000/t ($1,251/t), up by INR 500/t ($5/t) ex-works Jajpur. Prices were largely stable as market participation from both sellers and buyers was limited last week, resulting in steady market conditions.

Additionally, at Vedanta-FACOR's ferro chrome auction today, the larger lot (Cr: 56% min, 10-150 mm) fetched an H1 price of INR 116,800/t ($1,239/t) exw, up by INR 800/t ($8/t) from the base price of INR 116,000/t ($1,231/t).

Moreover, Odisha Mining Corporation (OMC) has scheduled an auction on 27 April 2026 for 1,550 t of high-carbon ferro chrome across multiple grades and sizes (Cr: 53-64%, 0-100 mm). The base price for the 500-t lot (Cr: 60-64%, 10-100 mm) has been set at INR 117,500/t ($1,246/t) exw. Delivery of the material is scheduled within 30 days from the date of the contract.

Ferro silicon prices remain mostly stable on firm offers

Indian ferro silicon (Si 70%) prices remained largely stable w-o-w at INR 107,500/t ($1,141/t) ex-works Guwahati, up slightly by INR 1,000/t ($11/t), while Bhutan prices held steady at INR 108,000/t ($1,146/t), as sellers restricted supply and maintained firm offers amid balanced market conditions.

Noble alloys prices reflect mixed trends w-o-w

Indian ferro molybdenum prices rose marginally by INR 50,000/t ($531/t) w-o-w to INR 3,650,000/t ($38,727/t) ex-works. The uptick was supported by tight raw material availability and steady trading activity, while global market sentiment remained largely stable with no major shifts.

Indian ferro vanadium prices remained mostly stable, rising slightly by INR 3,500/t ($37/t) to INR 1,417,000/t ($15,105/t) ex-works Raipur. Ferro vanadium prices edged higher, supported by rising upstream costs and firm producer pricing, despite subdued demand and cautious downstream market participation.

Indian ferro titanium (Ti:70%, 10-50 mm) prices remained stable w-o-w at INR 333,000/t ($3,541/t) exw. The market continued to reflect balanced fundamentals, with steady supply and consistent demand from the steel sector supporting price levels. Trading activity remained moderate, with no major shifts in market sentiment observed.

IEX spot prices rise w-o-w

Electricity prices on the Indian Energy Exchange (IEX) averaged INR 6.49/unit during 19-25 April 2026, up from INR 5.5/unit in the previous week.

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