India: Ferro Silicon Prices May Fall Further Owing To Low Demand

Indian Ferro Silicon Prices remains unchanged this week amid low demand. Sellers are under pressure due to persistent low demand while few producers are lowering the prices from the standard to entice buyers.

Ferro Silicon prices in May ended up at INR 71,000/MT for Ex-Guwahati. Producers in Bhutan are offering Ferro Silicon at around INR69,000/MT. In the export market, prices remained unchanged and stood at USD 1160/MT FOB Kolkata. Prices in the domestic market fell consistently owing to the low demand.

On the future outlook, producers remain pessimistic about any uptrend in the prices. Moreover, market participants believe that the prices may go further down in the next week owing to the lengthy period of low demand.