Ferrosilicon demand slow in South Asia
2008-10-09 08:47:52 【Print】
BEIJING (Asian Metal)10 Oct 08 - As international ferrosilicon market keeps sluggish currently, ferrosilicon demand remains slow in South Asia. The mainstream price remains in the range of INR65,000-70,000/t (USD1,461-1,573/t) ex works and USD1,550-1,580/t FOB CMP for ferrosilicon 70-75%. Participants believe that the market will keep sluggish in the coming weeks.
A trader in Pakistan, who usually purchases 3,000tpy of ferrosilicon, bought about 300t of ferrosilicon 70-75% for USD1,560-1,580/t CIF Pakistan from a supplier in Bhutan, believing that the market will move down further in the coming weeks. "The market is depressing, and we have not gotten any orders from local consumers," said the source. "The market can not recover in short time because of the sluggish steel market."
The source usually purchases ferrosilicon from foreign suppliers and sells to some local consumers, but they seldom buy the material from Chinese suppliers.
An Indian trader, who usually purchases 80-120tpm of ferrosilicon, purchased about 100t of ferrosilicon 70-72% for USD1,350/t CIF Nhava Sheva from a Chinese supplier this week. "The supplier offers USD1,400/t for the material, but we can only give him USD1,350/t because our customers can not accept the price at all," said the source.
The source usually sells ferrosilicon to some local foundries, and he received offers of INR68,000-70,000/t (USD1,528-1,573/t) ex works for ferrosilicon 70-75% from local smelters, believing that the market can not improve in the second half of October, but some consumers may come back to the market in November.
