- Uncertainty shrouds reopening of Meghalaya plants
- Chinese domestic prices remain steady w-o-w
Indian ferro silicon (70%) prices dropped INR 1,300/t ($15/t) w-o-w as compared to the previous assessment on 10 February, 2025. Prices fell as need-based buying was seen in the market and no significant impact was observed due to the closure of Meghalaya-based plants.
As per BigMint’s assessment on 17 February, ferro silicon prices in India were INR 101,300/t ($1,165/t) exw-Guwahati. However, in Bhutan, prices increased by INR 1,100/t ($13/t) w-o-w to INR 101,600/t ($1,168/t) exw. Around 1,000 t of deals were heard last week in both the regions within a price bracket of INR 100,000-104,000/t ($1,150-1,196/t) exw.
Market recap (11-17 February 2025)
Lower inquiries restricting upward movement: With Meghalaya plants closed for pollution control violation, market players were anticipating an upward movement in prices as it is a key production hub. But with limited inquiries in the market, prices edged down. Dwelling on this, a seller from North east India informed BigMint, “Prices should be stable at current levels. I don’t see any major shifts in pricing at the moment.”
Meanwhile, in Bhutan, prices went up from the earlier announced rates for this month as sellers revised their offers. Although deals were concluded up to INR 102,000/t ($1,173/t) levels, market players remain sceptical of future trends. A prominent producer informed, “Closure of ferro silicon plants in Meghalaya has not had any impact on prices. Bookings are slow even at INR 100,000/t ($1,150/t) exw levels.”
Chinese market stays steady: Ferro silicon (Si:75%) prices in China were unchanged w-o-w at RMB 6,320/t ($871/t) exw-Inner Mongolia. The majority of the market participants were in a wait-and-watch mode post holidays. Despite this, production and sales within the ferro silicon industry remained largely unchanged, and some factories resumed operations after the holidays.
However, prices on the Zhengzhou Commodity Exchange (ZCE) for May 2025 delivery dropped by RMB 190/t ($26/t) w-o-w to RMB 6,248/t ($861/t) on 17 February.
Outlook
As per the existing market conditions, there might be a slight correction in prices in the days ahead.
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