On June 15, SteelOrbis reported prices for Indian domestic ferrosilicon (70-75 percent) trending slightly down at INR 97,000-99,000/mt ($1,424-1,454/mt) ex-warehouse with prices on the bottom of the range ex-Bhutan and on the top of the range ex-Guwahati, both in the far northeastern region of India near Bangladesh.
Both regions have trended in tandem through the past quarter and are now reportedly at INR 91,000-93,000/mt ($1,255-1,282/mt) ex-warehouse after having dipped to INR 85,000-87,000/mt ($1,214-1,243/mt) ex-warehouse in mid-August. That price was reportedly stable through the end of August into mid-September.
Compared to June prices, Indian domestic ferrosilicon prices have declined $169/mt from the bottom of the previous range and $172/mt from the top of the same range. A source noted that prices are “regaining momentum and a bullish sentiment into Q4.”
USD = INR 68.10 (Jun 15)
USD = INR 70.02 (Aug 16)
USD = INR 72.53 (Sep 28)