Ferrosilicon Price Trend and Forecast 2026-2027

Germany remained the priciest of the four Ferrosilicon markets we track, climbing 6.2% in Q2 2026 to USD 1,465/MT as a strengthening yuan and firm European steel demand extended a recovery that's now been building for two quarters. The global average moved from USD 1,230/MT in Q1 2026 to USD 1,305/MT in Q2, a 6.1% gain. We expect the global average to land somewhere in the USD 1,290-1,420/MT range through H2 2026, with currency-driven export repricing and steady steel demand both continuing to support prices.

Ferrosilicon is an iron-silicon alloy, usually somewhere between 15% and 90% silicon, made by smelting quartz with iron and carbon reductants in electric arc furnaces. Most commercial material sits in the 65% to 75% silicon range, traded by the metric ton. Steel manufacturing is by far the largest end use, where it works as a deoxidizer and alloying agent, followed by cast-iron production as an inoculant, magnesium production through the Pidgeon process, and various specialty alloys. What makes this market a bit unusual is that pricing is really set by Chinese producers calculating costs in yuan, so currency movement matters here in a way it doesn't for most other commodities, alongside the more familiar drivers of electricity costs and steel-sector demand.

Ferrosilicon Price Forecast for 2026

The setup for H2 2026 points toward continued, gradual recovery rather than a sharp move in either direction. A strengthening yuan keeps raising the floor for dollar-denominated export offers, and steel-sector demand is firming after two rough years of oversupply.

If the yuan keeps appreciating, or if China tightens production quotas further under its carbon-neutrality policy, prices could run above this forecast. A renewed steel-sector slowdown, or a return to the oversupply conditions that dominated 2025, would be the more likely path toward the lower end instead.

For the Quarter Ending June 2026

Ferrosilicon Prices Q2 2026:

• China: USD 1,210/MT
• United States: USD 1,400/MT
• Germany: USD 1,465/MT
• India: USD 1,335/MT

Ferrosilicon Prices in China

China's export benchmark climbed 6.1% in Q2 2026, from USD 1,140/MT to USD 1,210/MT. The yuan kept strengthening against the dollar, and since Chinese producers calculate their costs in yuan, that currency move alone pushed dollar-denominated export offers higher.

Why did the price of Ferrosilicon change in Q2 2026 in China?

This is really a currency story more than anything else. When the yuan appreciates, producers need more dollars to recover the same yuan-denominated cost base, so they simply push export prices up to compensate. Firmer domestic steel demand added a second layer of support on top of that currency effect.

Ferrosilicon Prices in United States

US prices rose 6.1% in Q2 2026, from USD 1,320/MT to USD 1,400/MT. Import costs from Chinese suppliers climbed as the yuan strengthened, and domestic steel and foundry buyers kept ordering at their usual steady pace despite the higher price tag.

Why did the price of Ferrosilicon change in Q2 2026 in United States?

There's not much mystery here: China supplies a large share of the imported material US buyers rely on, and when Chinese export offers rise because of currency movement, that gets passed straight through to US landed costs. Domestic demand held steady, so buyers absorbed the increase rather than pulling back.

Ferrosilicon Prices in Germany

Germany stayed the most expensive of the four markets, up 6.2% to USD 1,465/MT from USD 1,380/MT in Q1. Import costs rose with the stronger yuan, and European steel and specialty alloy producers kept buying firmly through the quarter.

Why did the price of Ferrosilicon change in Q2 2026 in Germany?

Two things stacked here. Import prices climbed as the yuan strengthened and global benchmarks firmed generally, and European buyers, who already pay a structural premium for energy and carbon-pricing compliance, absorbed that increase on top of their existing cost base. That's why Germany's gap over the other three markets stayed the widest.

Ferrosilicon Prices in India

Indian prices rose 6.0% in Q2 2026, from USD 1,260/MT to USD 1,335/MT. Import costs climbed with the stronger yuan, and domestic steel-sector demand stayed firm on the back of continued infrastructure and construction activity.

Why did the price of Ferrosilicon change in Q2 2026 in India?

Import costs rose in step with the broader global repricing, and India's steel sector, supported by ongoing infrastructure and construction work, kept absorbing that cost without much resistance. Freight and import-duty costs added a small additional layer on top.

For the Quarter Ending March 2026

Ferrosilicon Prices Q1 2026:

• China: USD 1,140/MT
• United States: USD 1,320/MT
• Germany: USD 1,380/MT
• India: USD 1,260/MT

Ferrosilicon Prices in China

Prices recovered to USD 1,140/MT in Q1 2026, up 6.0% from Q4 2025, marking the start of a turnaround after two straight years of decline. Steel-sector demand firmed, and smelters tightened production discipline after years of oversupply.

Why did the price of Ferrosilicon change in Q1 2026 in China?

After two years of oversupply pushing prices lower, something finally shifted. Domestic steel mills increased order volumes heading into the new year, and producers who'd been running loose finally tightened up output discipline. That combination was enough to turn the trend around.

Ferrosilicon Prices in United States

Prices climbed to USD 1,320/MT in Q1 2026, up 6.0% from Q4 2025. Import offers from Chinese suppliers started recovering as the two-year global downtrend finally turned, and domestic steel demand stayed steady.

Why did the price of Ferrosilicon change in Q1 2026 in United States?

This tracked the broader Chinese recovery almost directly. As export offers from China began firming after two years of decline, US import costs followed suit. Domestic steel and cast-iron demand didn't do anything unusual; it simply kept pace with the rising import price.

Ferrosilicon Prices in Germany

Prices climbed to USD 1,380/MT in Q1 2026, up 6.2% from Q4 2025. Import offers started recovering alongside the broader global market turnaround, and European steel demand held steady.

Why did the price of Ferrosilicon change in Q1 2026 in Germany?

Germany's move here largely mirrored what was happening globally: import offers firmed as the two-year downtrend reversed, and European steel-sector demand stayed consistent enough to support the higher landed cost without any pushback from buyers.

Ferrosilicon Prices in India

Prices climbed to USD 1,260/MT in Q1 2026, up 6.1% from Q4 2025. Import offers recovered alongside the global market turnaround, and domestic steel demand held steady.

Why did the price of Ferrosilicon change in Q1 2026 in India?

This followed the same pattern as the rest of the world: import offers firmed as the two-year global downtrend reversed, and India's steel-sector demand was steady enough to carry the higher cost through without any real friction.

Quarterly Ferrosilicon Price Trends

This is a market that spent 2025 falling and 2026 recovering, and the six-quarter table makes that turn pretty clear. The global average dropped from USD 1,400/MT in Q1 2025 down to USD 1,320/MT, USD 1,230/MT, and USD 1,160/MT by Q4, before reversing to USD 1,230/MT in Q1 2026 and USD 1,305/MT in Q2. Even with the recent rebound, that's still a net decline of about 6.8% across the full window. Oversupply drove the fall, and currency movement alongside firming steel demand is driving the recovery now.

What was Ferrosilicon Price in 2025?

2025 was not a good year for Ferrosilicon prices. The global average started at roughly USD 1,400/MT in Q1 and fell to USD 1,160/MT by Q4, down 17.1% for the year, extending a downtrend that was already in its second year by the time 2025 began. High-capacity producers simply kept making more than the market needed, favorable input costs let them keep running even at thin margins, and steel-sector demand growth just wasn't strong enough to soak up the excess. That finally started to turn around in early 2026.

Ferrosilicon Prices in China in 2025

High-capacity production regions simply kept producing more than steel mills needed through 2025, and softer steel-sector consumption compounded the problem, extending a downtrend that had already run for two years by that point. China's export price fell from about USD 1,250/MT in Q1 to USD 1,075/MT by Q4, down 14.0%, with domestic benchmark prices, tracked in yuan, falling right alongside it as favorable electricity costs and raw material availability let producers keep running even at thin margins.

Ferrosilicon Prices in United States in 2025

Global oversupply, mostly out of high-capacity Chinese and other major exporting regions, kept import offers cheap in the US for most of 2025, pulling the average down from about USD 1,450/MT in Q1 to USD 1,245/MT by Q4, a 14.1% decline. Domestic steel and foundry demand stayed steady, but it simply wasn't strong enough to counteract the flood of affordable imports flowing in throughout the year.

Ferrosilicon Prices in Germany in 2025

Even though Germany held the highest absolute cost of any market tracked all year, global oversupply from Chinese and other major exporters still pushed the import-dependent market lower through most of 2025, from about USD 1,510/MT in Q1 down to USD 1,300/MT by Q4, a 13.9% decline. Energy costs and carbon-pricing compliance requirements kept Germany's premium over Asian and North American benchmarks structurally wide even as the overall price level fell.

Ferrosilicon Prices in India in 2025

Domestic steel-sector demand in India held reasonably steady through 2025, but it wasn't enough to offset the abundant, affordable supply flowing in from Chinese and other producers for nearly the entire year. The average slid from about USD 1,380/MT in Q1 down to USD 1,188/MT by Q4, a 13.9% decline, tracking the same global-oversupply pattern that pulled every other market lower.

How We Can Help

Expert Market Research: Your Source for Real-Time Ferrosilicon Price Intelligence

Currency movement matters more in this market than in most other commodities we cover, so alongside the usual electricity and raw material inputs, Expert Market Research pays close attention to yuan-denominated export economics specifically. That combination feeds into forecasts built on trade flow data, production capacity utilisation, and currency risk assessment across the four markets in this report. Contact our team for Ferrosilicon pricing data, custom market analysis, or help thinking through your procurement strategy.