- Domestic offers hit INR 100,000/t exw
- Silicon metal prices rise $80/t w-o-w
Indian ferro silicon (70%) prices witnessed a hike of INR 11,700/tonne (t) ($135/t) in comparison to the previous assessment on 21 July. Prices rose sharply, as offers from sellers increased amid the news of electricity supply cuts to Meghalaya plants and the rise in imported silicon metal prices from China.
As per BigMint’s assessment on 28 July, ferro silicon prices in India were at INR 97,400/t ($1,122/t) exw-Guwahati. In Bhutan, prices surged by INR 12,100/t ($139/t) w-o-w to INR 98,400/t ($1,134/t) exw. Deals for approximately 600 t were finalised in both regions last week in the price range of INR 94,000-100,000/t ($1,083-1,152/t) exw.
Market highlights (22-28 July 2025)
Offers rise following electricity supply cuts at Meghalaya plants: The Meghalaya Power Distribution Corporation Limited initiated widespread power cuts last week across various industrial plants (including all ferro silicon units) due to unpaid tariff difference dues, which were pending for over six months.
Due to this news, sellers in other regions such as Arunachal Pradesh and Bhutan gradually increased their offers to INR 100,000/t ($1,152/t) exw from INR 92,000/t ($1,060/t). Although some deals were concluded at elevated offers, buyers stayed cautious, in expectation of August’s offers from Bhutan.
A seller in Meghalaya informed BigMint, “The market is mostly speculative currently, and trends will become clearer only in the next 10-15 days.”
Silicon metal prices rise w-o-w: Ferro silicon producers also need to rely on silicon metal prices to determine their selling rates. Prices of imported silicon metal from China (grade 553, Si:98.5%) were at $1,485/t CFR Mundra on 28 July, a rise of $80/t w-o-w.
Chinese prices edge up w-o-w: Ferro silicon (Si:75%) prices in China edged up by RMB 50/t ($7/t) w-o-w to RMB 5,790/t ($807/t) exw-Inner Mongolia. Supply remained constrained due to limited production growth, while on the demand side, seasonal weakness in the steel sector and shrinking margins in downstream industries such as magnesium slightly dampened buying interest.
Semi-coke and electricity prices remained stable, although expectations around potential adjustments to electricity tariffs continued to create uncertainty in the cost outlook.
Outlook
Bhutan is expected to announce August prices in the coming days. These will largely determine the price trajectory in the days ahead.
However, as per some sources, Meghalaya-based plants have restarted operations, and the power cut lasted for around a week. Thus, the market seems to be in wait-and-watch mode, with bulk buyers holding back on purchases, awaiting further clarity.
Leave a Reply