- Market stays muted, most sellers sold out for month
- Chinese prices remain steady, ZCE futures decline
Indian ferro silicon (70%) prices edged down by INR 400/tonne (t) ($5/t) compared with the previous assessment on 25 August. Limited market activity was observed, with participants awaiting September’s offers from Bhutan.
Ferro silicon prices in India were at INR 91,200/t ($1,036/t) exw-Guwahati, as per BigMint’s assessment on 1 September. In Bhutan, prices fell slightly by INR 900/t ($10/t) w-o-w to INR 92,100/t ($1,046/t) exw. Trades for around 770 t were recorded by BigMint last week in the INR 91,000-92,000/t ($1,034-1,045/t) range in both regions.
Market recap (26 August-1 September 2025)
Market stays muted amid limited activity: Prices remained largely stable w-o-w amid limited market activity, as most sellers were sold out for the month and were awaiting September offers from Bhutan. This kept supply-side participation low, with minimal spot availability in the market.
Silicon metal prices tick down: Imported silicon metal prices from China (grade 553, Si:98.5%) edged down by $10/t to $1,350/t CFR Mundra on 1 September.
Chinese prices remain flat w-o-w: Ferro silicon (Si: 75%) prices in China continued to hold steady w-o-w at RMB 5,760/t ($808/t) exw-Inner Mongolia. Prices remained steady, as the market adopted a cautious stance, with limited trading activity.
Some mills kept offers firm due to low spot inventories, but overall support remained weak. Semi-coke tags stabilised, electricity costs were minimal, and slowing steel demand further capped price gains.
ZCE futures decline: Ferro silicon futures on the Zhengzhou Commodity Exchange (ZCE) for October 2025 delivery dropped by RMB 144/t ($20/t) w-o-w to RMB 5,358/t ($751/t) on 1 September compared to RMB 5,502/t ($771/t) on 25 August.
Outlook
In the short term, Bhutan’s September offers will determine Indian ferro silicon prices.
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