Ferro Silicon prices have been unchanged since months and rise in supply is outstripping demand levels.
Currently, grade70-75 is being offered around INR 65,000/MT (Ex-Bhutan). However, market participants believe that supply situation has eased and infact stock with Bhutanese producers have been piling up, and a price correction could be in the offing.
In Bhutan, Ferro Silicon prices were at the same level on bearish market sentiment. “There is sluggish demand in the market and with increase in supply there might be chances of prices going down,” revealed a Bhutanese producer.
SteelMint assessed current price of Ferro Silicon grade 70-75 is around 63,000/MT (Ex-Guwahati).
Domestic demand for the material is stable and buyers are in a wait-and-watch approach. A Meghalaya based producer reported, “The ferro silicon market is looking for some direction at the moment and I think any price uptick is not possible this month.”
According to market watchers ferro silicon prices are likely to be under pressure unless demand picks up.
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