Ferro Silicon prices in India remain unchanged in the domestic market as supply overhang continues but demand slightly rises from last week. Most market sources said the increased supply would cap any possible uptick.
In Bhutan, prices for Ferro Silicon marginally fall on weak demand and excess supply. Ferro Silicon (70-75) is being traded at INR 75,500/MT (Ex-Bhutan). Bhutanese producers reported of low demand from India. Observing decline in sales volumes, Bhutan based Ferro Silicon producers have decided to cut their offers. It is to be seen whether this latest development results in an increase in demand from India. The export market visibly had fair demand from European nations. In the export market, Ferro Silicon is being offered at around USD 1,270/MT FoB Kolkata.
[su_quote]A producer source from Bhutan remarked, “Weak prices of Ferro Silicon appear to be a long-term issue as ample supply continues to outpace demand.”[/su_quote]
Ferro Silicon prices remain unchanged in the Indian market on moderate demand. Current price of Ferro Silicon (70-75) is at around INR 73,000-73,500/MT in Guwahati. Indian producers reported that oversupply still persists in the market. In the domestic market demand is not expected to rise as year-end comes close and so most end users are unwilling to purchase.
[su_quote]“Demand has been poor over the past one or two month. But, prices should remain stable in the near term. It would be hard for producers to drop prices further,” said a Meghalaya based producer.[/su_quote]
On the future outlook, SteelMint assessed that there is little possibility of any price change in March and demand is expected to remain low. Most market participants are hoping that market sentiment will improve in April.
Exchange Rate: USD 1= INR 61.24
Leave a Reply