Ferro silicon market lost its ground with prices easing on absence of buying interest, and increase in inventory with the producers.
Producers from Bhutan have lowered offers by INR 1,000/MT, due to weak demand with new deals concluding at INR 64,000/MT (ex-Bhutan). Prices have fallen as demand has failed to the supply. No export deals were heard as reportedly there is no demand at all from the international buyers.
“The market situation has been practically the same for a long time and prices have been stable since months. But, demand has been lacklustre for a while now.” stated a producer from Bhutan.
Similarly, Indian ferro silicon prices plunge down by INR 1,000/MT and now are being offered at INR 62,000/MT (Ex-Guwahati).
A Meghalaya based producer said, “It has been a very quiet few days. We cannot identify a clear direction for prices. Buying appetite has subsided. It’s hard for a recovery to take place.”
SteelMint assessed that as end-user demand for ferro silicon has not picked up, prices are likely to be under pressure with production being constant.
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