- Key suppliers in Bhutan, NE India keep sales on hold
- Some Bhutanese sellers divert stocks to export market
Indian ferro silicon (70%) prices increased by INR 3,000/tonne (t) ($34/t) in comparison to the assessment on 8 September. Prices increased due to tight supply, as only a limited number of sellers offered material in the market, and some Bhutanese suppliers diverted stocks to the export market due to favourable demand from overseas.
As per BigMint’s assessment on 15 September, ferro silicon prices were at INR 89,000/t ($1,010/t) exw-Guwahati. In Bhutan, prices went up by INR 2,400/t ($27/t) w-o-w to INR 88,400/t ($1,003/t) exw. Deals for approximately 3,500 t were concluded in the assessment window in both regions within the price bracket of INR 86,000-89,000/t ($976-1,010/t) exw.
Market summary (9-15 September 2025)
Prices gain on supply constraints, export demand: Ferro silicon prices in Bhutan opened this month at INR 86,000/t ($976/t) exw, which most sellers gradually adopted, though realisations in the market remained lower.
Then, as per sources, key suppliers in Bhutan and northeast India reduced their sales significantly, leading to tight material availability in the market. With limited inventories, prices witnessed an upward push.
Export demand also remained steady and supportive, with a few Bhutanese sellers preferring to cater to overseas buyers instead of the local market. This further tightened supplies within India, adding to price firmness. A Meghalaya-based seller stated, “We are not offering at the moment, as we are waiting for the market to improve.”
South India’s price trends: Sellers in south India mostly offered material in the price bracket of INR 91,000-93,000/t ($1,033-1,056/t) exw.
Silicon metal prices inch up: Imported silicon metal prices from China (grade 553, Si:98.5%) edged up by $15/t w-o-w to $1,370/t CFR Mundra on 15 September.
Chinese prices see slight uptick: Ferro silicon (Si:75%) prices in China remained largely stable, inching up by RMB 100/t ($14/t) w-o-w to RMB 5,760/t ($809/t) exw-Inner Mongolia. A new round of bidding by some steel mills lifted market inquiries, providing limited support.
Meanwhile, Hebei Iron and Steel Group (HBIS Group) reduced its ferro silicon bids for September. Bids (Si: 72%) stood at RMB 5,800/t ($815/t), reflecting a slight drop of RMB 230/t ($32/t) m-o-m from the August tender price of RMB 6,030/t ($847/t). This price includes all taxes and freight charges to HBIS Group facilities.
ZCE futures edge up: Ferro silicon futures on the Zhengzhou Commodity Exchange (ZCE) for November 2025 delivery edged up by RMB 76/t ($11/t) w-o-w to RMB 5,700/t ($801/t) on 15 September compared to RMB 5,624/t ($790/t) on 8 September.
Outlook
Although prices have increased recently, major deals are yet to be concluded at these levels. In the coming days, buyers’ acceptance of the elevated offers will determine the price trajectory.
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