India: Ferro silicon prices fall due to subdued demand

Indian ferro silicon prices fell this week due to low demand following the fall in the Bhutanese prices. Bhutanese producers are mostly dependent on the Indian market, and with the Indian demand subdued, the selling pressure has intensified. The producers had to revise the prices to conclude deals. The quoting prices are at INR 72,000/t Ex-Bhutan and INR 73,000-74,000/t Ex-Guwahati. However, few deals have also been heard to take place below these levels.

The transactional prices remain in between INR 71,000-72,000/t Ex-Bhutan and INR 72,000-73,000/t Ex-Guwahati. Russian ferro-silicon prices fell to $750/t due to sluggish market conditions. The European demand is also near to absent in the present times and the prices are continuously slipping down. Meanwhile, Chinese export prices are stable W-o-W.

Outlook:
Although, the prices are falling rapidly, yet the producers are trying to keep the prices firm. However, with low demand and approaching monsoons, the producers are facing intense selling pressure.