Indian ferro silicon prices are almost rangebound w-o-w amid stable supply-demand dynamics as buyers and sellers agree on current prices. The majority of producers informed SteelMint that they have sizeable orders in hand and are fully booked for the coming weeks. Although there has been a minor drop in enquiries from the domestic market due to the end of the calendar year, producers are not concerned because they are confident that new orders would arrive in the coming month.
According to SteelMint’s assessment on 23 December, Guwahati producers were offering at INR 118,250/t ex-works with few producers selling at slightly lower prices too. Meanwhile, in Bhutan ferro silicon prices were assessed at INR 123,500/t exw.
Market highlights
Domestic demand remained moderate as traders had sufficient stocks and end users booked small quantities amid market uncertainty. The prices remained unchanged as a result.
Furthermore, some Bhutanese producers were catering in the export market, while others were booked in government tenders. This also prevented smelters from lowering their prices because they had large orders in hand and were fully booked for the next few weeks.
Furthermore, steel prices remained stable w-o-w amidst moderate demand, forcing ferro silicon producers to maintain the price.
Moreover, producers from the south region competed in the domestic market by offering lower prices. This also made it difficult for Guwahati based producers to raise their prices.
Outlook
Market participants expect prices to continue to remain stable in the coming weeks amidst balanced market conditions.
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