Weekly Round-up: Indian ferro alloys prices fluctuate amid cautious buying, muted market activity

• Silico manganese prices rise on steel recovery
  
  
• Ferro chrome prices slip amid cautious buying
  
  

Ferro silicon prices ease on muted market activity

Indian ferro silicon (Si 70%) prices fell slightly by INR 700/t ($8/t) w-o-w to INR 96,000/t ($1,067/t) ex-works Guwahati, while prices in Bhutan edged down by INR 200/t ($2/t) to INR 95,300/t ($1,059/t). Muted market activity and anticipation of January 2026 offers kept sentiment soft. With Bhutan opening at INR 94,000/t yesterday, prices are expected to hold near current levels.

Ferro chrome prices slip amid cautious buying

Indian high-carbon ferro chrome (HC 60%, Si: 4%) prices edged down by INR 200/t ($2/t) to INR 106,300/t ($1,181/t) ex-works Jajpur. Buying activity remained limited, with market participants adopting a cautious stance amid expectations of further price declines.

Meanwhile, Rashtriya Ispat Nigam Ltd has issued 2 tenders to procure a total of 1,380 t of high-carbon HC ferro chrome (Cr: 57-63%,C: 6-8%, size: 10-100 mm) for its Visakhapatnam Steel Plant. with the submission deadline set for 20 Jan'26.

Steel market recovery lifts domestic silico manganese prices

Indian silico manganese (60-14) prices rose by around INR 900/t ($10/t) w-o-w to INR 69,500-70,800/t ($772-787/t) across Durgapur, Raipur, Raigarh, and Vizag, supported by a modest recovery in the steel sector. Improved acceptance of slightly higher-priced material by steel mills lent support to prices.

Meanwhile, HC 65-16 silico manganese prices up by $11/t w-o-w to $908/t FOB Vizag/Haldia.

Additionally, State-owned mining company MOIL has announced a revision in the prices of its manganese ore, effective from January 1, 2026. As per the official release, prices for all ferro grades-both with manganese content above and below 44%-have been increased by 3%. Meanwhile, prices across all SMGR categories, with Mn30% has been increased by 5%. However, SMGR Mn25%, have been decreased by 5% and Mn20% declined by 10% on a m-o-m basis.

Ferro manganese prices rise on improved inquiries w-o-w

Indian ferro manganese (HC 70%) prices increased w-o-w by INR 700/t ($8/t) to INR 71,500/t ($794/t) in Durgapur and went up by INR 500/t ($6/t) to INR 71,800/t ($798/t) in Raipur. Prices rose due to improved domestic steel demand, restocking activity by buyers, limited spot availability, and rising manganese ore costs supporting sentiment.

Meanwhile, HC 75% ferro manganese prices also rose by $14/t w-o-w to $896/t FOB Vizag/Haldia.

Imported manganese ore prices edge up w-o-w

Prices of higher grades of imported manganese ore (Mn 37-46%) inched up w-o-w. Mn44% from Gabon stood at $4.92/dry metric tonne unit (dmtu), up by $0.03/dmtu, Mn46% from Australia was at $5.26/dmtu CIF India, up by $0.03/dmtu, and Mn37% from South Africa was assessed at $4.28/dmtu, up by $0.01/dmtu w-o-w.

Ferro molybdenum prices strengthen on global cues

Indian ferro molybdenum prices increased by INR 27,000/t ($300/t) w-o-w to INR 2,725,000/t ($30,273/t) exw. The increase was driven by strong domestic and global demand, along with higher LME molybdenum futures.

Meanwhile, On the London Metal Exchange (LME), molybdenum futures went up by $0.32/lb w-o-w to $21.63/lb.

Ferro vanadium prices edge up w-o-w

Indian ferro vanadium (FeV 50%) prices rose by INR 14,500/t ($162/t) w-o-w to INR 1,145,700/t ($12,754/t) ex-Raipur on 31 Dec'25 on greater trade momentum, with a 15 t deal heard at INR 1,160,000/t ($12,913/t). The price rise was driven by tight availability and improved buyer acceptance for prompt requirements. The Chinese market remained stable amid balanced supply-demand, lending indirect support to prices.

Ferro titanium prices dip marginally in quiet trading

Indian ferro titanium prices (Ti 70%, 10-50 mm) edge down by INR 1,500/t ($17/t) w-o-w to INR 282,500/t ($3,139/t) exw on 1 Jan'25. Market activity stayed quiet with limited inquiries amid the year-end slowdown across domestic and global markets, and overall market sentiment showed no major change during the week.

IEX spot prices inch down w-o-w

Electricity prices on the Indian Energy Exchange (IEX) stood at INR 4.2/unit during 28 December 2025 - 3 January 2026, up from INR 4.38/unit the previous week.

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