Indian ferro silicon prices remained stable w-o-w in the face of moderate demand, with minor fluctuations. Meanwhile, both buyers and sellers agreed on the current prices.
According to SteelMint’s assessment on January 27, 2023, most ferro silicon producers offered between INR 122,000 and 125,000/tonne (t) exw-Guwahati and Bhutan, depending on quantity and selling pressures.
Furthermore, prices in Guwahati have remained range-bound as many people await the release of new offers from Bhutanese plants.
Furthermore, a few producers held their offers in the expectation that prices would rise in the near future, as the deadline for BIS certification has passed and no further extensions have been announced. As a result, producers were hoping that materials from China, Malaysia, Russia, and Norway would not enter the Indian market because many overseas buyers from those countries had not yet received BIS certification. As a result, the shortage of imported material in the Indian market could support prices.
Outlook
Amid the current scenario of moderate demand, ferro silicon prices are unlikely to rise sharply.
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