On March 30, SteelOrbis reported prices of Indian domestic ferrosilicon (70-75 percent) down at INR 99,000-99,400/mt ($1,522-1,528/mt) ex-warehouse.
According to sources, sellers have reduced prices again as they face pressure to make deals, and Indian domestic ferrosilicon prices have slipped down to a wide range of INR 95,000-97,000/mt ($1,455-1,486/mt) ex-warehouse. Priced declined $67/mt from the bottom of the previous range and $42/mt from the top of the same range. A source noted that despite Indian steel prices strengthening in the course of the past two weeks alloy prices may lag the upward trend through the month but may see a rebound in May.
USD = INR 65.05 (Mar 30)
USD = INR 65.29 (Apr 12)