Indian ferro-silicon prices remained stable despite dull demand and limited deals concluded. The producers have kept prices firm in both Bhutan and Guwahati. Although, most of the producers are facing some labour shortage. Meanwhile, Guwahati went into total lockdown from Monday following the community spread of COVID-19. The 14-day lockdown ends on July 12. Meghalaya too imposed lockdown in areas of Ri-Bhoi district bordering Guwahati. However, this has not affected the production and the dispatches for most producers in Guwahati region, but the producers might face some labour shortage during this period.
Offers from the Bhutanese suppliers are at INR 74,000/t. Meanwhile, in Guwahati, prices are firm at INR 75,000/t. Export deals continue to remain absent in this week too. SteelMint assessed that even in the domestic market, limited transactions have taken place.
Outlook:
The selling pressure is high on the producers; moreover, the demand doesn’t seem to improve. The prices may remain stable for now but it is highly unlikely that it might go up given the lacklustre steel market.
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