- Decent export bookings, SAIL tender tighten supply
- China’s prices remain steady despite weak demand
Indian ferro silicon (70%) prices edged up by INR 1,000/t ($11/t) as compared to the previous assessment on 6 October. Prices increased, as sellers raised their offers following decent export demand, extended rains in Bhutan, and a slight supply crunch, as some sellers were focused on fulfilling SAIL’s tender requirements.
Ferro silicon prices in India were at INR 88,000/t ($991/t) exw-Guwahati, as per BigMint’s assessment on 13 October. In Bhutan, prices rose by INR 600/t ($7/t) w-o-w to INR 88,000/t ($991/t) exw. Deals for around 5,600 t were recorded by BigMint in both regions in this assessment window, within the price range of INR 84,000-89,500/t ($946-1,008/t) exw.
Market recap (7-13 October 2025)
Export bookings tighten supplies: The ferro silicon market witnessed good export demand, mainly for the 75-grade material, with offers ranging between $1,275-1,300/t FOB Kolkata. Some sellers secured export bookings at these levels, while some other plants were focused on supplying material for the recent SAIL tender. This created a slight supply crunch in the domestic market, resulting in an increase in offers.
A market participant informed BigMint, “Current offers are hovering around INR 89,000/t ($1,002/t) exw, and further price increases are likely as the onset of winter is expected to disrupt supply.” However, overall demand has not picked up significantly, and it remains to be seen whether the higher prices can be sustained in the coming days.
Chinese prices stay flat: Ferro silicon (Si:75%) prices in China remained unchanged w-o-w at RMB 5,950/t ($836/t) exw-Inner Mongolia amid weak supply-demand conditions. Steel mills maintained firm procurement needs, supporting underlying demand, while ferro silicon producers faced cost pressures and showed a greater willingness to limit production, which kept prices steady.
Steady conditions in the commodity and steel markets further supported price stability. Market activity remained constrained by the combined effects of weak downstream demand and steady upstream production costs, keeping ferro silicon prices in a consolidation phase.
ZCE futures edge down: Ferro silicon futures on China’s Zhengzhou Commodity Exchange (ZCE) for December 2025 delivery edged down by RMB 74/t ($10/t) w-o-w to RMB 5,378/t ($756/t) on 13 October compared to RMB 5,452/t ($766/t) on 9 October.
Outlook
In the coming days, prices are likely to increase further. However, buyers’ acceptance will largely influence the extent of the price increase.
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