On September 28, SteelOrbis reported prices for Indian domestic ferrosilicon (70-75 percent) trending up at INR 91,000-93,000/mt ($1,255-1,282/mt) ex-warehouse.
Sources inform SteelOrbis that Indian domestic ferrosilicon prices have firmed slightly up on sufficient demand and the inflation resulting from currency devaluation. Prices are now reportedly at INR 92,000-93,500/mt ($1,248-1,268/mt) ex-warehouse. While prices increased domestically, due to the devaluation of the INR, prices declined $7/mt from the bottom of the previous range and $14/mt from the top of the same range.
USD = INR 72.53 (Sep 28)
USD = INR 73.70 (Oct 12)