en.Wedoany.com Reported - The price of Indian medium-carbon silico-manganese (Mn 53%, Si 20%, C ≤0.5%) fell by INR 1,900/t (approx. $20/t) week-on-week, dropping to INR 89,600/t (approx. $935/t) ex-works Durgapur on May 14. Affected by persistently weakening downstream demand and end-users purchasing only on a need-to basis, the medium-carbon silico-manganese market faced overall downward pressure.

Ample supply of medium-carbon silico-manganese alloy, coupled with a lack of new export order support, led to a more cautious market sentiment and increased willingness among sellers to offload. Quotations during the week ranged between INR 89,200-90,600/t (approx. $930-945/t), with a deal for 550 tonnes concluded at INR 88,700/t (approx. $925/t).

The imported manganese ore market also softened in tandem. The medium-carbon silico-manganese market has been sluggish since late April, weakening smelters' purchasing interest. Subdued downstream demand and declining realized alloy prices prompted global miners to lower offers for June shipments. Australian Mn 46% ore fell by $0.05/dmtu week-on-week to $6.45/dmtu (CNF Haldia/Vizag), while Gabonese Mn 44% ore dropped by $0.10/dmtu to $6.00/dmtu (CNF), broadly tracking the weakness in the imported ore market.

In the short term, weak steel demand, cautious buyer procurement, and the persistent weakness in the medium-carbon silico-manganese market are expected to continue weighing on prices.

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