- Sellers focus on fulfilling current month’s orders
- Chinese prices remain steady; futures slide w-o-w
Indian ferro silicon (70%) prices remained largely stable, down by a minor INR 200/tonne (t) ($2/t) as compared to the previous assessment on 12 January. Prices held steady, as market sentiment remained stable and neutral. Tight spot supply prevented significant price corrections.
As per BigMint’s assessment on 19 January, ferro silicon prices in India were at INR 93,800/t ($1,031/t) exw-Guwahati. In Bhutan too, prices dipped by INR 200/t ($2/t) w-o-w to INR 93,700/t ($1,029/t) exw. Limited deals were concluded during the assessment window in both regions, primarily within INR 93,500-94,000/t ($1,027-1,033/t) exw.
Market summary (13-19 January 2026)
Prices hold steady on limited spot supply: The Indian ferro silicon market remained largely stable last week, supported by limited spot availability across both regions. Most sellers had already secured orders at the beginning of this month, and ongoing deliveries against these commitments continued during the week. Additionally, some producers were engaged in supplying material against previously concluded tender orders. As a result, sellers concluded fewer fresh spot deals, which helped keep prices firm despite muted buying interest.
On the export front, ferro silicon prices were steady w-o-w at around $1,100/t FOB Kolkata for 70-grade material. Sources indicated that the export market remained slow due to a lack of new inquiries and prevailing cautious sentiment.
Chinese ferro silicon prices edge up: Ferro silicon (Si:75%) prices in China remained largely stable, edging up by RMB 30/t ($4/t) w-o-w at RMB 5,790/t ($831/t) ex-Inner Mongolia. The market remained stable, with balanced cost and demand fundamentals. Stable coal prices and production costs in several regions remained unchanged, which continued to support spot prices.
On the demand side, pre-holiday stocking by steel mills provided support. Bidding activity at some mills improved market sentiment, leading to some sellers being unwilling to reduce prices. Although the futures market remained weak, its influence on spot prices gradually diminished, with no notable impact on spot quotations.
ZCE futures slip w-o-w: Ferro silicon futures on the Zhengzhou Commodity Exchange (ZCE) for March 2026 delivery declined by RMB 150/t ($11/t) w-o-w to RMB 5,548/t ($796/t) on 19 January 2026, in comparison with RMB 5,698/t ($817/t) on 12 January 2026.
Outlook
Ferro silicon prices are expected to remain steady in the coming week, as most bookings for this month have already been concluded.
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