On January 4, SteelOrbis reported prices of domestic ferrosilicon (70-75 percent) at INR 110,000/mt ($1,736/mt) ex-Guwahati warehouse, excluding the 18 percent GST tax, in a region near Bangladesh.
Market sources inform SteelOrbis that prices of domestic ferrosilicon are now at INR 105,000/mt ($1,644/mt) ex-Guwahati warehouse, excluding taxes. The price has declined by $92/mt over the past two weeks. Despite adequate demand, the decline is reportedly attributed to the downward influence resulting from a fall in Chinese ferrosilicon prices and their corresponding lower offers to the export market.
USD= INR 63.38 (Jan 4)
USD= INR 63.85 (Jan 19)