Ferro silicon prices were unchanged this week, after three weeks of continuous price fall.
Ferro silicon prices in Bhutan were on the same level this week, as the market is still dampened by demand weakness. Despite prices being stable this week producers were unsure how long the prices can hold as demand continued to be depressed. Export offers could not be confirmed on absence of buying interest.
SteelMint assessed grade 70-75 prices at INR 59,000 (Ex-Bhutan). However, few deals were alsso heard to be concluded at much lower levels.
SteelMint assessed that buyers continue to stay on the sidelines amid a lacklustre market.
Domestic Ferro Silicon Prices Flat on Low Demand
Indian producers also kept Ferro Silicon prices unchanged aided by stable prices in Bhutan. Current price for grade 70-75 is INR 57,000 /MT (Ex-Guwahati). The buyers of ferro silicon are being cautious in their approach, and there is visibly less demand and buyers are expecting prices to go down further.
A Meghalaya based producer remarked, “The supply situation needs to be normalized or else there will be further fall in prices.”
Market sources continue to cite a thinly traded market and suggested that the low trading volume will keep prices under pressure.
Exchange Rate: INR 67.8
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