India: ferro silicon prices remain stable w-o-w

Indian ferro silicon prices remain stable despite moderate demand from the domestic market. Currently, the prices are at INR 80,000/t both in Bhutan and Guwahati. However, some bulk deals have been done at lower prices also.

BIS certification deadline for quality conformance of ferro silicon is approaching and there is no update on the extension. However, there is a high possibility that the deadline will be extended, yet the producers of Guwahati believe that there will be panic and therefore are holding back sales. Only ten producers could get the certifications yet, and all of them are the Indians.

Meanwhile, the demand for exports remained subdued. Although, the international market has picked up, yet prices in domestic market are more acceptable to the suppliers. However, as buyers in the domestic market look towards the down-trending steel market, prices could decrease in the coming weeks.