India: Ferro Silicon Prices stable despite falling steel market
Prices of Ferro Silicon have remained stable for the past two weeks despite the weakening of the steel market. However, such stability in prices is attributed to the lower stocks with the producers. Ferro Silicon prices have been hitting low for quite some time now and are the lowest in the past three years.
Producer sources revealed to SteelMint that many plants are planning for shutdown as operating at such low cost is not viable to operate. Moreover, due to Assam floods, importing Coke is also an issue that needs to be checked. Therefore, even though the demand is soft, suppliers are reluctant to decrease prices due to the high production cost incurred.
In the global market, the prices of Ferro Silicon remained stable. Although the Chinese Ferro Silicon market rebounded last week and the prices rose, it did not maintain its gains this week. The prices in Russia and China both fell this week. In Russia, the prices are at USD865/MT FOB and Chinese quotations are back at USD 1045/MT FOB. In the domestic market, the prices in Bhutan and Guwahati both remained firm at INR 62,000/MT Ex-plant.
On the future outlook, the Ferro Silicon prices have bottomed out but any significant increase in the prices cannot be foreseen.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
