Indian ferro silicon prices remained stable this week amid moderate demand due to low buying ahead of the New Year holidays.
According to SteelMint’s assessment, Guwahati producers were offering at around INR 118,000/t exw, while Bhutan’s offers remained stable w-o-w at INR 120,000/t exw. However, some Guwahati producers were seen trying to quote at similar levels to those of Bhutanese suppliers. Limited deals were recorded by SteelMint at these levels.
In addition, bulk orders remained subdued, which kept prices steady. Due to volatility in the ferro alloys market, the majority of buyers booked small parcels.
Furthermore, the majority of Bhutan’s producers focused on overseas orders amid good realisations. This also resisted smelters from reducing offers.
Moreover, stable prices globally amid moderate demand also kept offers stable in the domestic market.
China’s market overview
China’s ferro silicon (75%) prices remained stable w-o-w at RMB 8,550/t exw-Inner Mongolia. The ferro silicon quotation in the main production area was still relatively stable, and steel mills’ bidding progress was relatively slow at the end of the year. Prices are expected to remain stable in the short term.
Outlook
Domestic ferro silicon prices are likely to remain rangebound in the near term. However, producers are optimistic amid rising prices of other ferro alloys.
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