India: Ferro Silicon Prices Falls Amid Low Demand

Indian Ferro Silicon Prices falls in the domestic market due to low demand. Sellers are under pressure due to low demand while few producers are lowering the prices from the standard for small quantities to entice buyers.

Demand in the domestic market remains weak. However, in the export market, inquiries have started to build up, but the price expectation is too low to conclude any deals in the market. SteelMint learned that the companies which piled up inventories to create scarcity in the market are now trying to sell aggressively to clear the stocks.

Producers from Bhutan are offering Ferro Silicon at INR 71,000/MT Ex- Bhutan. Ferro Silicon prices Ex-Guwahati is in the range of INR 71,000-72,000/MT. In the export market, prices remained unchanged at USD 1160/MT FOB Kolkata, USD1195/MT FOB Russia and USD 1175/MT FOB China.

On the future outlook, producers remain pessimistic about the uptrend in the prices. Market Participants believe that the supply- demand dynamics is affecting the market and once the dynamics is stable, there is a hope that the prices may rise again.