After Bhutan proposes a new proposal, the price of Indian ferrosilicon has risen

Main influencing factors:

Bhutan reports an increase in electricity prices

The growing demand in Europe

According to a survey by Hainan West Asia Group, compared to the previous evaluation on January 1st, the price of Indian ferrosilicon (70%) has increased by 4300 Indian rupees per ton (52 US dollars per ton) year-on-year. The main reasons for the price increase are the increase in electricity prices in Bhutan and the increase in inquiries from Europe.

According to an assessment by the US Steel Mint on January 8th, the price of Indian ferrosilicon is 106000 rupees per ton (1275 US dollars per ton), EXW Guwahati. The price in Bhutan has also increased by 4400 rupees/ton (53 US dollars/ton), to 106000 rupees/ton on January 8th, EXW. In these two regions, a transaction of approximately 1800 tons was reached at the same price.

The impact of Bhutan on Indian prices is still ongoing: Bhutan mainly receives electricity from hydroelectric power plants, but due to the ongoing winter season, power supply is disrupted. Therefore, they will import electricity from India within the next 2-3 months, and sources have also reported that raw material prices have risen.

BIS license issue: The Bureau of Indian Standards (BIS) license that allows exports to India has expired for some ferrosilicon producers in Bhutan. Therefore, compared to the previous month's cost, the new quotation has increased.