India: Ferro Silicon Prices Down on Lower Trade
Ferro Silicon prices fall down as few producers are cutting down prices to clear the piled up inventories.
Ferro Silicon prices in March ended up at INR 76,000/MT for Ex-Guwahati. Producers in Ex-Bhutan are offering Ferro Silicon at a range of INR74,000/MT to INR 76,000/MT. In the export market, prices remained unchanged and stood at USD 1230/MT FOB Kolkata. Prices in the domestic market remained consistently stable owing to the steady demand and supply dynamics.
Producers in Bhutan and Guwahati were expecting prices of Ferro Silicon to rise and hence they were building up inventory to create a material scarcity in the market. However, high inventory is now creating problems and therefore, producers had to lower their offer prices. In Bhutan, some producers were also heard of underselling the product at INR 74,000/MT.
On the future outlook, Ferro Silicon prices are unlikely to go down further as few plant owners suggested that plant shutdowns are a possibility if prices were to tread lower. The market may seem stable once the push of stock clearance is over with and the producers get steady demand.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
