Ferro silicon prices continue to remain stable amid supply constraints and waning demand.
SteelMint weekly assessment for ferro silicon (grade 70-75) is at INR 65,000/MT (Ex-Bhutan), unchanged W-o-W.
There is one bearish school of thought on the future direction of prices. A Bhutan-based producer said the market lacked confidence amid a cloudy steel outlook. Steel mills were being cautious with their procurement as steel sales were weak.
“Currently there is limited supply in the open market, but demand from steel mills is also low. Hence, prices have been stable for a long time,” said a producer source from Bhutan
Domestic Ferro Silicon Prices Unchanged to Muted Demand
Domestic ferro silicon prices were unchanged amid quiet trade, as expectations of lower price levels weighed on the market.
According to Indian producers, ferro silicon prices are unchanged with balance in demand-supply fundamentals. Demand has eased out but supply continues to be restricted.
SteelMint weekly assessment for ferro silicon (grade 70-75) is at INR 63,000/MT (Ex-Guwahati), unchanged W-o-W.
Market watchers reported that low demand has led to stable offer prices, although downfall in prices is not expected if supply continues to hold tight.
Leave a Reply