Indian ferro silicon producers have lowered their offers after Bhutan reduced the prices to INR 80,000/t. Demand is on the downside now and buyers are asking for lower prices. A few deals were heard at around INR 79,000/t for bulk quantities.
One of the major buyers said that there is some issue with logistics from Bhutan except for the eastern part of the country. One of the producers from Guwahati shared that, the buyers are asking for lower prices, but they are firm at their offers as they are booked out for the month.
Meanwhile, the exporters are waiting for BIS to extend the certification date for the quality conformance of ferro silicon. Till now ten producers have acquired the BIS certification. Since India is a net importer of ferro silicon, there is a general expectation that the deadline will be extended.
Outlook:
It is expected that there will be some marginal downtrend in the prices of ferro silicon in the short term unless demand picks up from the steel and associated industries.
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