Indian ferro-silicon prices have been falling since the past few weeks and the down-trending demand along with the low cost imported material is driving down the prices further. Due to continuous low demand, the producers are forced to reduce the offers to compete with the imported prices. Offers from the Bhutanese suppliers decreased to INR 74,000/t. Meanwhile, in Guwahati prices have also corrected to INR 75,000/t. However, even after the hefty fall of INR 2,500/t on a weekly basis, producers are yet to fetch better demand.
Russian ferro-silicon prices fell by $10/t to $770/t due to sluggish market. The European demand is also near to absent in the present times. Imports from Malaysia of 75% grade is available at around $950-990/t in the Asian market, which is pulling down the prices. Meanwhile, Chinese export prices went up amidst the increase in the domestic prices in China.
Outlook
Ferro-silicon producers are unwilling to reduce the prices further, however, the chaotic global scenario and the prices from Malaysia may yet have a significant effect on the domestic market.
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