Ferro Silicon prices fall in India in line with poor Semis market in the country.
Few producers claim to have limited inventory as they are already booked out for most of their projected production, while deals in the spot market are reportedly low.
“The market did not see much of a change, while a competitive market coupled with the limited demand has prompted us to lower our offers,” a source mentioned expressing his concern.
SteelMint assessed Ferro Silicon offers at INR 92,000/MT (ex-Bhutan) and INR 94,000/MT (ex-Guwahati), while few deals were heard to have been concluded at lower levels as well.
Overseas demand has been reported being dull as European buyers have sufficient inventory for the last quarter. Moreover, the buyers are currently cautious regarding their purchase of the alloy due to their concern about the consumption of underlying sectors.
“Downward trending price in China also built a bearish sentiment within the market participants,” said a source referring to falling Ferro Silicon prices in China.
Export offers were assessed at USD 1,375/MT FOB Kolkata, down by USD 25/MT W-o-W basis.
On the future outlook, Ferro Silicon prices are expected to maintain stability while evaporating demand in spot market might drag it lower.
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