The ferro silicon market saw another week of unchanged prices as consumers prefer to make procurement on hand-to-mouth basis, with buyers and sellers unwilling to budge on price ideas.
SteelMint assessed the price for grade 70-75 at around INR 65,000/MT (Ex-Bhutan).
In Bhutan, it is a bleak market for ferro silicon as both demand and supply are down. “Now the ferro silicon market is bad, demand is very low as steelmakers are buying less material,” remarked a producer based in Bhutan.
Domestic Ferro Silicon Sellers Maintain Offers on Tight Supply
Domestic ferro silicon prices were steady as sellers continued to resist lowering offers on shortage of material.
SteelMint assessed the prices for grade 70-75 at around INR 63,000/MT (Ex-Guwahati).
Supply tightness continued to give sellers reason to maintain offer levels. A producer from Meghalaya says, “Inventories are very low and that could help keep ferro silicon prices supported.”
Most market participants are of the view that the current price level is likely to remain unchanged for rest of the month because there is no apparent demand and supply is restricted, balancing the effect on pricing mechanism.
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