Weekly round-up: Indian ferro alloys reflect mixed sentiment amid shifting demand dynamics

• Weak market sentiment continues to drag manganese alloy prices lower
  
  
• Ferro molybdenum prices rally to 3-year high on tight global availability
  
  

Indian silico manganese (60-14) prices continue to fall by INR 5,200/t ($54/t) w-o-w to INR 74,600-75,600/t ($778-789/t) across key markets. Prices continued to weaken amid low-priced bulk transactions in both the spot market and producer auctions. Subdued steel sector demand and expectations of further corrections kept buyers cautious, limiting fresh procurement activity.

Meanwhile, HC 65-16 silico manganese export prices decreased by $7/t to $912/t FOB Vizag/Haldia.

Ferro manganese prices down on cautious procurements

Indian ferro manganese (70%) prices decreased w-o-w by INR 2,000/t ($21/t) to INR 77,900/t ($813/t) in Raipur and by INR 2,100/t ($22/t) to INR 77,900/t ($813/t) in Durgapur. Limited bulk enquiries and slow market activity pressured suppliers to lower offers to stimulate transactions.

Meanwhile, export prices for the 75% grade fell by $10/t w-o-w to $900/t FOB Vizag/Haldia.

Imported manganese ore prices edge down w-o-w

Imported manganese ore prices inched down w-o-w. Australian Mn46% was at $6.31/dmtu, down by $0.14/dmtu, Gabonese Mn44% prices stood at $5.9/dmtu, down by $0.1/dmtu, and South African Mn37% stood at $5.23/dmtu, down by $0.14/t w-o-w.

Ferro chrome prices edged up w-o-w

India high-carbon ferro chrome (HC 60%, Si 4%) prices inched up by INR 400/t ($4/t) w-o-w to INR 119,000/t ($1,241/t) ex-works Jajpur. Prices inched up amid slight improvement in market inquiries for the material.Sellers largely maintained firm offers, which supported a slight increase in domestic ferro chrome prices. Market sentiment also remained positive due to the upward movement in stainless steel prices, providing additional support to the alloy market.

Ferro silicon prices fall on lower bids w-o-w

India ferro silicon (Si 70%) prices declined by INR 500/t ($5/t) w-o-w to INR 105,500/t ($1,100/t) ex-works Guwahati, while Bhutan prices fell by INR 900/t ($9/t) to INR 104,600/t ($1,091/t). Prices declined in both markets due to rising inventories, the commissioning of new production plants, and reduced demand from end-users. Additionally, bids were lower against Bhutan's May offers, which, coupled with sufficient supply, ultimately pushed sellers to close deals at reduced prices.

Noble alloys prices reflect mixed trend w-o-w

India ferro molybdenum prices surged by INR 249,000/t ($2,597/t) w-o-w to INR 4,100,000/t ($42,763/t) ex-works. Prices have reached the highest level since March 2023 (3-year high) as the market is currently facing global shortage of molybdenum concentrate. That apart, Chinas demand has also gone up fuelling positive sentiments.

Indian ferro vanadium prices declined by INR 17,000/t ($180/t) w-o-w to INR 1,419,000/t ($15,013/t) ex-works Raipur on 13 May 2026. The market remained under pressure this week as falling steel mill procurement prices, weakening raw material support, and subdued buying sentiment collectively dragged market prices lower across key regions.

Indian ferro titanium (Ti:70%, 1050 mm) prices increased by INR 6,000/t ($62/t) w-o-w to INR 350,000/t ($3,656/t) exw, supported by rising raw material costs, tighter spot availability, and improved demand from the steel sector.

IEX spot prices rise w-o-w

Electricity prices on the Indian Energy Exchange (IEX) averaged INR 5.026/unit during 10 May-16 May 2026, up from INR 3.43/unit in the previous week.

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