Weak demand persists in the ferro silicon market which has kept prices under check.
Ferro silicon market continues to remain soft as producers and traders continue to lament on low deals. Currently, grade70-75 is being offered around INR 64,000/MT (Ex-Bhutan).
“There is uncertainty in the market and it is extremely tough to find willing buyers because they are either hesitating at the side or giving us lower bids,” remarked a producer from Bhutan.
Domestic offer price for ferro silicon remain at the same level, as Indian producers had earlier cut offers to solicit trade. SteelMint assessed current price of ferro silicon grade 70-75 is around 62,000/MT (Ex-Guwahati).
“Steel demand is expected to pick-up post monsoons and the market is already on an upward uptrend, but Ferro Silicon buying continues to be weak,” stated a Meghalaya based producer.
SteelMint assessed that there is little confidence in the ferro silicon market as demand has not picked up and there is little possibility of any price rise until demand returns.
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