India: Ferro Silicon Prices Sturdy on Resolute Demand
Mining News Pro - Indian Ferro Silicon prices moved up marginally as the commodity’s demand exceeds its supply.

According to Mining News Pro -The inventory levels with producers are very limited making it difficult for them to cater to the buyers’ requirement,” said a producer source justifying the rising prices of the commodity.

Moreover, another producer claimed the supply issue to be artificial as the traders have stocked their inventory with an intention to sell it later at higher prices for better realization.

SteelMint assessed Ferro Silicon prices at INR 92,000-93,000/MT (ex-Guwahati) and (ex-Bhutan).

“Most of the market participants are awaiting the Ferro Silicon prices that are expected to be released by major Bhutanese firms,” said a source. However, we expect the prices to be on par with current levels, he further added.

Overseas demand is also observed to be encouraging especially from Europe as Indian sellers are registering better realization.

“Most of the European buyers have already stocked themselves when the prices were lower,” said a Bhutanese producer. He further said that the current export offers have surged to USD 1,375/MT FOB Kolkata.

The logistical issue has reportedly been eased as vessels are currently available but limited inventory coupled with high raw material cost has added significantly to the Ferro Silicon prices.

Ferro Silicon market in China is observed to be soft following excess supply but there have not been any imports of the same in India due to devalued INR against the USD.

On the future outlook, Ferro Silicon prices are expected to gain further ground owing to its favorable demand and supply dynamics.


Share the news

In Picture