Ferro Silicon prices in India drift down despite constant demand.
SteelMint assessed that there is a balanced demand-supply situation for Ferro Silicon in the domestic market but the prices have been drifting down on high competition.
“This is a seasonal effect which is taking place in the market,” said a source justifying the lowering prices in spite of regular inquiries.
“Sliding Ferro Silicon prices in the overseas markets has encouraged buyers to negotiate on the lower side,” said a producer referring to the weaker market for the commodity in Europe and USA.
The current price of Ferro Silicon grade 70-75% is assessed at around INR 96,000/MT (Ex-Bhutan) and INR 98,000/MT (Ex-Guwahati).
In the export market, demand from overseas was reportedly weak on the backdrop of Easter holidays.
However, Indian and Bhutanese producers have kept their prices unchanged at USD 1,670/MT FOB Kolkata, but a chance of a downward correction is inevitable.
On the future outlook, there is a limited possibility of Ferro Silicon prices to rise in the near future, while a slight downward movement in its prices is likelier.
Leave a Reply