Ferrosilicon prices in India down
2023-03-23 08:24:19 [Print]
BEIJING (Asian Metal) 23 Mar 23 - Dragged by the shrinking demand, the current mainstream prices of ferrosilicon 70%min 25-150mm in India went down by INR3,000/t (USD36/t) to INR115,000-120,000/t (USD1,403-1,464/t) EXW D/P from early last week. Given the weakening demand, insiders foresee the mainstream prices of ferrosilicon 70%min 25-150mm in India would go down further next week.
A producer in India disclosed that he sold 100t of ferrosilicon 70%min 25-150mm at INR116,000/t (USD1,415/t) EXW D/P on Wednesday while he insisted on INR119,000/t (USD1,451/t) early last week. "The demand from steel mills turned shrinking upon their lower operation rate, and we decreased output in March against February due to the sluggish demand," revealed the producer on Wednesday. Given the weakening demand, he foresees the mainstream prices of ferrosilicon 70%min 25-150mm in India would go down further next week.
With an annual ferrosilicon production capacity of 24,000t, the plant plans to output around 1,000t in March, down by around 1,000t from last month, holding around 500t in stock.
A trader in India disclosed that his current offer for ferrosilicon 70%min 25-150mm stands at INR118,000/t (USD1,439/t) EXW D/P and he sold 60t at INR117,000/t (USD1,427/t) after back-and-forth discussion on Wednesday, while the trader insisted on INR120,000/t (USD1,464/t) early last week. "Some regular producers in Indian and Bhutan marked prices down this week upon the sluggish demand," revealed the trader on Wednesday. He added that he usually sells at least 100t a week but only less than 100t every two weeks due to the curtailed demand from his clients, and he predicts the mainstream prices of ferrosilicon 70%min 25-150mm in India would go down further next week.
The trader, based on a regular monthly ferrosilicon trading volume of around 500t, expects to sell around 200t this month, down by about 200t from last month, holding no stocks.
A producer in India disclosed that he sold 100t of ferrosilicon 70%min 25-150mm at INR116,000/t (USD1,415/t) EXW D/P on Wednesday while he insisted on INR119,000/t (USD1,451/t) early last week. "The demand from steel mills turned shrinking upon their lower operation rate, and we decreased output in March against February due to the sluggish demand," revealed the producer on Wednesday. Given the weakening demand, he foresees the mainstream prices of ferrosilicon 70%min 25-150mm in India would go down further next week.
With an annual ferrosilicon production capacity of 24,000t, the plant plans to output around 1,000t in March, down by around 1,000t from last month, holding around 500t in stock.
A trader in India disclosed that his current offer for ferrosilicon 70%min 25-150mm stands at INR118,000/t (USD1,439/t) EXW D/P and he sold 60t at INR117,000/t (USD1,427/t) after back-and-forth discussion on Wednesday, while the trader insisted on INR120,000/t (USD1,464/t) early last week. "Some regular producers in Indian and Bhutan marked prices down this week upon the sluggish demand," revealed the trader on Wednesday. He added that he usually sells at least 100t a week but only less than 100t every two weeks due to the curtailed demand from his clients, and he predicts the mainstream prices of ferrosilicon 70%min 25-150mm in India would go down further next week.
The trader, based on a regular monthly ferrosilicon trading volume of around 500t, expects to sell around 200t this month, down by about 200t from last month, holding no stocks.
