On February 22, SteelOrbis reported prices of Indian domestic ferrosilicon (70-75 percent) at INR 102,000-103,000/mt ($1,569-1,585/mt) ex-warehouse in the Guwahati and Bhutan regions, excluding GST of 18 percent.
According to market sources, India’s domestic ferrosilicon offer prices have since decreased to INR 99,400-100,000/mt ($1,526-1,535/mt) ex-warehouse on slight product oversupply as “inventories at sellers’ warehouses have increased.” The new range decreased $43/mt from the bottom of the previous range and $50/mt from the top of previous range.
Sources report the price decline has been steady since early January after achieving a high of approximately INR 110,000/mt ($1,736/mt).
USD = INR 63.38 (Jan 4)
USD = INR 64.99 (Feb 22)
USD = INR 65.15 (Mar 8)