India: Ferro Silicon Producers Lower Offers On Rising Inventory

Ferro Silicon producers cut their offers further to entice buyers in a competitive market.

Albeit steady demand, a few major producers are lowering their offers for Ferro Silicon to garner greater buying interest.

"Even with limited inventory, we are unable to raise our offers as some other producers have lowered their prices," said a major producer source expressing his concerns on sliding Ferro Silicon offers.

SteelMint assessed Ferro Silicon offers at INR 1,00,000/MT (Ex-Bhutan) and INR 1,01,000/MT (Ex-Guwahati).

"An outstanding demand from Europe has only been a support to our prices," said a Bhutanese producer expressing his satisfaction from the deals concluded. "We have stopped trading within domestic borders," he added further.

A bearish market in China has also influenced the Indian and Bhutanese producers significantly. "It has not only adversely affected the domestic market but have also been hampering the Indian exports in the Asian market," said a source in the aforementioned context.

Export offers are assessed at USD 1,760/MT FOB Kolkata.

On the future outlook, Ferro Silicon offers might edge down further as it is becoming difficult for the same to hold in the domestic market.