Ferro Silicon prices in India remains unchanged despite a fall witnessed by the commodity in China.
India offers remains unaffected post recommencement of Ferro Silicon production in China, which weakened the market in the region. Previously, the Chinese govt. had curtailed or temporarily shut production in some provinces as a step to control pollution during winter, but has now ordered them to resume operation at 50% capacity.
“Europe has just entered the market after the holidays and inquiries from the region is expected to rise,” said a Bhutanese producer discussing the overseas demand. He added that supply from Malaysia is also limited as they are mostly booked out.
The export offer from India is assessed at USD 1950-2000/MT FOB Kolkata.
Demand for Ferro Silicon in domestic market also remained intact and so is its price at INR 1,10,000/MT (Ex-Guwahati).
However, some of the Bhutanese producers have been offering at lower prices. SteelMint assessed Bhutanese offers in the range of INR 1,05,000-1,10,000/MT (Ex-Bhutan).
“Most of the Ferro Silicon producers are out of stock as they are booked till Jan’18,” said a source discussing the availability of the commodity.
On the future outlook, market participants are of the view that the prices will find it difficult to rise any further as supply from China increases.
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