India: Ferro Silicon Prices Maintained Despite Improving Demand
Ferro Silicon prices moved down in Bhutan despite improving demand. Producers are cutting down prices to entice buyers. However, the demand remains scattered, a few producers are enjoying good demand whereas others are reducing prices and hence, the overall prices are getting affected. Producers in Bhutan were undercutting prices since last week and now the producers have reduced their offer prices as they are facing a cash crunch in the month-end. Many producers are low in inventory.
Producers from Bhutan are offering Ferro Silicon at INR 65,000/MT Ex- Bhutan. Ferro Silicon prices Ex-Guwahati is at around INR 66,000-67,000/MT. In the export market, prices remained unchanged for Ferro Silicon (75%) at USD 990/MT FOB Kolkata. However, the inquiries remained missing despite lowered prices of Ferro Silicon.
On the future Outlook, producers feel that the prices may remain stable for now as the demand is improving and the producers are low on inventory. Therefore, soon there can be turbulence in the supply-demand dynamics.
source: SteelMint
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