Indian, European manganese alloys markets jump on tight supply, ore rally

The Indian silico-manganese export price and European domestic high-carbon ferro-manganese price rose in the past week amid tight alloy availability and hefty increases in the cost of ore.

The silico-manganese 65% Mn min, min 16% Si, fob India price jumped by 13.5% to $1,000-1,100 per tonne in the week ended Friday April 24 from $900-950 per tonne on April 17. This is the assessment’s highest level since October 2018.
Exporters increased their offers in response to buying inquiries from traditional customers in Southeast Asia and Japan after virtually all Indian production was shut in the past few weeks.
India has been in a general lockdown along with many other Asian countries. There is limited steel production in Indian and Indian ferro-alloys producers have reacted by suspending operations since domestic and overseas demand disappeared. The lockdown was extended recently until May 3, and while the steel sector was exempt a lack of workers and trucks to ship materials to and from plants meant steelmakers had to slash output.

About 90% of total world manganese...

Published

Declan Conway

April 28, 2020

14:56 GMT

Galway