Ferro Silicon prices in India are falling in line with low demand. Sellers are under persistent pressure to liquidate stocks. Few market participants believe that the demand is scattered as a few producers are overbooked whereas, other producers are facing difficulty in selling their products.
Producers in Bhutan stated that they are facing difficult manpower situations due to Indian Elections as the majority of manpower in Bhutan comes from India. However, the future trend in prices cannot be predicted right now. Few producers are underselling the product to buyers ordering in bulk quantity. In the present scenario, the producers having low power cost can offer at cheaper rates, but otherwise, the producers may incur losses.
Ferro Silicon prices Ex-Guwahati is in the range of INR 73,000-74,000/MT. Producers from Bhutan are offering Ferro Silicon at INR 73,000/MT Ex- Bhutan. In the export market, prices were down to USD 1160/MT FOB Kolkata.
SteelMint learned that a few producers who stocked the product to create scarcity in the market are now trying to sell aggressively to clear the piled up inventory, as demand did not pick as they had hoped for. On the future outlook, prices may rise soon once stock levels with some producers come down to regular levels.
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