India: Ferro Silicon Prices Remain Depressed amid Sluggish Steel Market
Indian Ferro Silicon prices are at bottom levels due to bearish Stainless Steel and Steel market condition. Many producers are trading at below their production cost in India to lower the inventory. A Bhutan based producer reported that they are in no profit no loss situation with such rates of Ferro Silicon.
The demand from India which is the major importer for Bhutan is also sluggish owing to market conditions. Demand from export market is absent. Even with reduced prices, there are no inquiries from the export market, which has put the producers under selling pressure.
Producers from Bhutan are offering Ferro Silicon at INR 69,000/MT which is unchanged on W-o-W basis. However, a few deals were also heard to be concluded at INR 68,000/MT. Ferro Silicon prices in Guwahati is in the range of INR 68,000 – 69,000/MT. In the export market, prices remained unchanged for Ferro Silicon (75%) at USD 1140/MT FOB Kolkata. However, no deals were concluded despite such lower prices.
On the future outlook, producers remain pessimistic about any changes in the upward movement of price. However, producers are also expecting prices not to fall further than present levels other-wise; temporary shut-down of plants can’t be ruled out.
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
