Ferro Silicon Price Continues to Fall as trading activity remained really low.
On weak demand offers were reduced of 70-75% ferro silicon in Bhutan. A producer from Bhutan reported, “The market is bad, as demand is extremely weak and offers continue to fall.” Prices have fallen sharply as more than adequate supply. No export deals were heard as reportedly export offers from Bhutan are closed.
Current prices for ferro silico grade 70-75 stand at INR 62,000/MT (Ex-Bhutan).
Similarly, Indian Ferro Silicon prices also came down by INR 1,000/MT and now is being offered at INR 60,000/MT. Indian producers are of the view that there is an overflow of supply of Ferro Silicon. There is reluctance to purchase material by end-users and softer trades weighed on the prices.
“There is no indication of better market as demand is poor and there is oversupply in the market,” stated a producer from Meghalaya.
SteelMint assessed overall market sentiment was dampened by expectations of further falls in prices.
Exchange Rate: USD 1 = INR 66
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