India: Ferro Silicon Prices Remains Unchanged W-o-W basis
Producers in India and Bhutan have maintained the prices of Ferro Silicon despite low demand and thin trading activities. India is experiencing such a tough demand scenario for Ferro Silicon owing to the bearish Stainless and Steel market amid an oversupply of material. An Indian producer reported that they are willing to reduce the prices further for bulk quantities to generate sales.
Producers from Bhutan are offering Ferro Silicon at INR 67,000/MT Ex-Bhutan. Meanwhile, few deals were heard to be concluded at a much lower price for bulk quantities. Ferro Silicon prices in Guwahati is at around INR 68,000/MT. In the export market, offer prices remained unchanged for Ferro Silicon (75%) at USD 1100/MT FOB Kolkata.
On the future outlook, it may be anticipated that the Ferro Silicon prices may continue at such levels for the time being with marginal fluctuations. Producers feel that it is highly unlikely that the prices may fall further and may continue at such levels for now. Most market participants believe that the prices may redeem only after the Stainless Steel market starts improving and prices for other Ferro Alloys also picks up.
source: SteelMint
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