Producers in India have maintained the prices of Ferro Silicon despite low demand and thin trading activities. However, a few traders are under selling the product to entice customers. India is experiencing such tough scenario owing to bearish Stainless Steel market and Oversupply of materials. Producers in Bhutan said that the industries with a lot of inventory are selling below by INR 2000/MT to clear off the stock, such decrease in prices are bringing the market price down. Meanwhile, a few producers have shut down their production temporarily till the market stabilizes again.
Producers from Guwahati 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 Bhutan is in the range of INR 67,000 – 69,000/MT. In the export market, prices fell by USD 20/MT for Ferro Silicon (75%) to USD 1100/MT FOB Kolkata. However, the prices for China went high amid less availability of stocks in China.
On the future outlook, the prices of Ferro Silicon may follow the same levels. However, Indian Producers may follow China for increasing the prices, but such increase may be short lived, said a producer.
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