Ferro silicon market is met with buyers withholding purchases to depress pricing.
Ferro silicon prices in Bhutan were unchanged from last week with the market continuing to be pressured by low demand. Bhutan-origin Ferro silicon 70-75% min is being offered at INR 75,000/MT. Producers in Bhutan reported of meek demand in the export market and is offering the material at USD 1,250/MT, FoB Bhutan.
“It seems that both buyers & sellers are awaiting further price movements, so both have been resisting from dealing in any for the time being”, remarked a producer from Bhutan.
Similarly, the Indian Ferro silicon market remains lackluster due to weak end-user demand. 70-75% grade is being offered at INR 72,500 /MT. Softer tone in the market was clearly apparent. Most sources concurred buyers were staying out of the market to achieve lower pricing.
“Buyers are waiting for the price to come down. If they wait enough, they might achieve this because demand is very low”, stated a producer from Meghalaya.
Market sources continue to cite a thinly traded market and suggested that the low trading volume has prevented any movement in prices.
Exchange Rate : USD 1 = INR 61.6
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