- Sellers keep offers competitive amid rising imports
- Plant closures in Meghalaya fail to support prices
Indian ferro silicon (70%) prices dropped INR 1,400/tonne (t) ($16/t) in comparison to the previous assessment on 30 June. As per sources, Bhutan opened July prices at INR 88,000/t ($1,027/t) exw. However, most sellers quoted lower offers.
As per BigMint’s assessment on 7 July, ferro silicon prices in India were at INR 87,000/t ($1,015/t) exw-Guwahati. In Bhutan, prices dropped by INR 900/t ($11/t) w-o-w to INR 87,100/t ($1,016/t) exw. Deals for around 4,000 t were concluded in both regions in this assessment window, within the price bracket of INR 85,000-88,000/t ($992-1,027/t) exw.
Market summary (1-7 July 2025)
Suppliers keep offers competitive amid limited demand: With rising imports of ferro silicon and silicon metal, sellers in both Bhutan and northeast India reduced their offers to stay competitive in the market.
In Meghalaya, around three units closed their operations, which limited supplies. However, given that there were no significant inquiries, prices did not see an uptick.
For exports as well, demand was lower for 70-grade material, with prices hovering at $1,070/t FOB Kolkata. US buyers were in the market mainly for the 75 grade.
China’s prices remain firm: Ferro silicon (Si:75%) prices in China remained unchanged w-o-w at RMB 5,640/t ($786/t) exw-Inner Mongolia. Some producers in the northwest continued to limit output due to rising losses, but a slight production recovery is expected in Ningxia, easing supply pressure. Overall, demand stayed weak due to the traditional off-season.
Prices on the Zhengzhou Commodity Exchange (ZCE) were up by RMB 94/t ($13/t) w-o-w at RMB 5,364/t ($748/t) on 4 July for September deliveries.
EU reviews ferro silicon dumping duties: The European Commission, in a notice dated 30 June, has launched a review of anti-dumping duties on ferro silicon imports from Russia and China. Requested by Euroalliages, the review covers products under CN codes 72022100, 72022910, and 72022990 (the EU version of HSN codes). Although current import volumes are low, the EC noted that unutilised capacity by both countries and reduced sales elsewhere may threaten EU producers.
For Russia, price comparisons with exports to countries such India and Japan suggest potential dumping. For China, Brazil was used as a reference to show a significant dumping margin. Evidence of dumping to Asian countries was also submitted to support the review.
Outlook
Considering limited buying in the market and competitive offers, prices may witness further corrections in the days ahead.
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