- Offers rise 2% w-o-w to INR 97,000/t ($1,071/t) exw levels
- Buyers remain cautious despite rising seller offers
Indian ferro silicon (70%) prices recorded an uptick of INR 800/t ($9/t) w-o-w on 13 February as compared to the assessment on 6 February, primarily due to fewer offerings in the market. While some market participants have also pointed to the shutting of plants in Meghalaya due to pollution control violations affecting prices, no official confirmation has been released on the closures as of writing this report.
As per BigMint’s assessment on 13 February, ferro silicon prices in India stood at INR 95,800/t ($1,057/t) exw-Guwahati. In Bhutan, it was at INR 95,000/t ($1,048/t) exw, steady w-o-w.
Market highlights
About six industrial units in Meghalaya have reportedly received closure notices from the State Pollution Control Board over environmental compliance violations, according to market participants. Of these, around three plants were actively producing ferro silicon, with a combined monthly capacity estimated at approximately 3,000 tonnes. The temporary disruption from these operational units has tightened spot availability in the market.
At the same time, several suppliers in the North-East were already committed to tender-based orders, while a few others had limited material left and were effectively sold out. A similar situation was observed in Bhutan, where some key producers had either concluded export shipments, supplying to tenders, or secured early bookings for February deliveries.
Owing to these supply-side constraints across Meghalaya and Bhutan, sellers in both regions revised their offers upward. However, despite the firm quotations, deals remained muted as buyers turned cautious due to uncertain near-term supply visibility.
Notably, India’s annual ferro silicon consumption is 300,000 tonnes per year, out of which imports account for about 200,000 tonnes while the rest is through domestic production.
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