After a sustained slide, silico manganese prices in India have stopped falling, helped by firmer steel prices that restored mills' appetite to buy. A floor under SiMn matters for the whole ferro alloy complex: it steadies smelter margins in the Raipur belt, restores confidence at furnaces that had been running on thin spreads, and gives buyers a clearer signal for restocking after months of hand-to-mouth purchasing. Whether the turn matures into a genuine rally now depends on how long the support from steel prices holds through the coming quarter.