India: Ferro Silicon Prices Steady Amid Moderate Demand

The demand for Indian Ferro Silicon has been observed to have impaired as steel market witnesses downward trend.

SteelMint assessed that there has been a demand and supply mismatch, but market will be mostly unaffected as most of the material have already been booked. Moreover, there are very limited number of manufacturers producing Ferro Silicon in the country.

The offers for Ferro Silicon remains stable at INR 71,000/MT (Ex-Bhutan) and INR 70,000/MT (Ex-Guwahati).

A producer source revealed that "traders of Ferro Silicon are not procuring the usual volumes as prices for most of the ferro alloys are plunging and they are trying to maintain low inventories in view of offers lowering in coming days".

In context to overseas market, Malaysian imports are very negligible and unlikely to affect Indian producers. "There has been rising inquiry from Middle-East countries, Europe as well as some of the Asian countries," mentioned a producer source from Bhutan.

Hence, in line with global steel market scenario, SteelMint learned that the current export offers remain stable at USD 1,080/MT FOB Kolkata.

In consonance with the present scenario, it can be conferred that the Ferro Silicon prices is likely to remain stable in the coming 1-2 weeks.