Ferrosilicon prices improved but sale slow

Ferrosilicon price increased these days because of the increased production
cost while the sale keeps slow. However, ferrosilicon
producers hold a positive attitude toward the future market and think it may
pick up in the coming days. The mainstream
price for ferrosilicon 70% is at INR67,000-68,000/t (USD1,360-1,380/t)
ex works currently.

An Indian
ferrosilicon producer with current output of 1,400tpm quoted ferrosilicon 70%
at INR67,000-68,000/t (USD1,360-1,380/t) ex works on Thursday and their
quotation has increased by INR5,000/t comparing with that of last month. The source reported that they increase the offers only
because of the increased production cost.

“Indian
construction industry is slow now, so demand for ferrosilicon keeps at a low
level,” said the source. Ã¢â‚¬Å“We still have
some stocks now, but the total volume is small. It will take some
time for the demand to pick up.”

“As there are too
many spot materials on the market now, we want to clear out the inventory as
soon as possible,” said the source. Ã¢â‚¬Å“When the stock
volume decreased, Indian ferrosilicon producers may start to increase their
offers.”