Ferro Silicon producers continued to grapple with poor steel margins and weak fundamentals, as demand further dented.
The Ferro Silicon in Bhutan continued to see thin trade, with sellers holding offers as demand remained anemic. Bhutan-origin Ferro silicon grade 70-75 is being offered at INR 70,000-71,000/MT. Export offers were not heard as European buyers are not buying any material.
Bhutanese producers reported that buyers were expecting prices to soften further, and were cautious in buying now. Producers had to reduce offer prices as a result of the weak demand.
Prices for Ferro Silicon in India edged down further this week on the back of prevailing weak demand, as consumers continued to shy away in anticipation of lower levels. Current price for grade 70-75 is INR 69,000 /MT (Ex- Guwahati). Indian producers reported of meek demand in the domestic market on top of sufficient supply of the material.
“It is hard to say where the Ferro Silicon price will go at the current time. But it is certain that pricing will go further down if the demand continues to fall,” remarked a producer from Meghalaya.
Market sources stated the expectation of more price declines is keeping most buyers out of the market.
SAIL invites bid for purchase of 10,620 MT Ferro Silicon
Bhilai Steel Plant (BSP), a unit of SAIL, intends to procure a tentative quantity of 10,620 MT Ferro Silicon, its requirement for four months, starting Apr’15-Jul’15 for its various Steel plants. The company has invited various indigenous and overseas manufacturers for supply of the material.
Tender applicants should be Ferro Silicon manufacturers and must possess a plant with installed capacity of 4,000 MT p.a. Participants must offer a minimum quantity of 2,700 MT to be supplied in four equal intervals.
Chemical Specification
Silicon: 70% min
Carbon: 0.15% max
Sulphur: 0.05% max
Exchange Rate : USD 1 = INR 62.45
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