- Bhutan cuts Sep offers on weak demand, rising imports
- Chinese prices inch down w-o-w on need-based buying
Indian ferro silicon (70%) prices dropped by INR 5,200/tonne (t) ($59/t) compared with the previous assessment on 1 September. Following Bhutan’s price announcement of INR 86,000/t ($976/t) exw for September, Indian sellers aligned their offers accordingly.
Ferro silicon prices in India stood at INR 86,000/t ($976/t) exw-Guwahati, as per BigMint’s assessment on 8 September. In Bhutan, prices declined by INR 6,100/t ($69/t) w-o-w to INR 86,000/t ($976/t) exw. Trades for around 500 t were recorded last week in a similar price range in both regions.
Market recap (2-8 September 2025)
Bhutan’s offers decline m-o-m: Bhutanese sellers reduced ferro silicon offers by INR 9,000/t ($102/t) m-o-m to INR 86,000/t ($976/t) in September. The decline was likely driven by limited inquiries, increased ferro silicon imports, and easing Chinese silicon metal (553 grade, Si:98.5%) prices, which slipped $6/t m-o-m to $1,369/t CFR Mundra in August.
Following this announcement, Indian sellers fixed their offers at the same rates, which resulted in an overall decline in prices.
Silicon metal prices dip: Imported silicon metal prices from China (grade 553, Si:98.5%) edged lower by $5/t w-o-w to $1,355/t CFR Mundra on 8 September.
Chinese prices inch down: Ferro silicon (Si:75%) prices in China remained largely stable, slipping by RMB 100/t ($14/t) w-o-w to RMB 5,660/t ($794/t) exw-Inner Mongolia, with only minor fluctuations across regions. Plant operations and overall supply were steady, reflecting stable production conditions.
Meanwhile, demand from downstream steelmakers was mainly need-based, keeping overall market activity moderate. On the cost side, raw material prices remained firm, providing consistent support for production costs and limiting the scope for any sharp price declines.
ZCE futures edge down: Ferro silicon futures on the Zhengzhou Commodity Exchange (ZCE) for November 2025 delivery edged down by RMB 92/t ($13/t) w-o-w to RMB 5,532/t ($776/t) on 9 September compared to RMB 5,624/t ($789/t) on 1 September.
Outlook
Prices are expected to stay range-bound in the days ahead. Additionally, as per sources, some sellers have raised offers to INR 89,000-90,000/t ($1,010-1,021/t) exw, as certain key sellers in Bhutan have exhausted their material. However, no deals have been heard yet at these levels.
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