India: Ferro Silicon Prices Down in Recent Trades

Ferro Silicon prices in India decreased in line with tepid demand from the buyers; however, the producers believe that this slide in prices might come to a halt on expected demand post the festive period in October. Producers believe that the demand is going to improve in the coming weeks as the market tends to move towards the positive side in line with supply shortage post-holidays. Also, with the upcoming procurement tender from SAIL which is scheduled to happen on 17th Oct for 12,197 MT for the grade Si 70% min., producers have some support for the prices. However, Ferro Silicon demand in the export market is getting highly affected by the Malaysian supply, as they are offering material at much cheaper rates.

Producers from Guwahati are offering Ferro Silicon at INR 63,000/MT Ex- Guwahati and Ferro Silicon prices Ex-Bhutan is at around INR 62,000-63,000/MT for grade 70%. Prices in Hyderabad for 72% grade Ferro Silicon is in the range of INR 68,000-69,000/MT. Producers in Guwahati are also facing much pressure from the buyers and they are negotiating for lower prices, but the producers remain firm on their offers.

On the future outlook, Ferro Silicon prices are likely to be stable for now but may increase in the coming weeks.