Ferro Silicon Prices in Indian Market Up Slightly

Due to the rebound in demand, the current mainstream price of 70%min ferrosilicon in the Indian market has increased by 1,000 rupees/ton from the beginning of last week to 63,000-65,000 rupees/ton ex-factory cash. Based on the reduced supply, market participants predict that the Indian market iron silicon 70%min price will continue to rise in the coming week.

An Indian trader said he paid rs67,000 a tonne in cash for 70 per cent min of 100 tonnes of ferrosilicon with freight charges of about rs2,000 a tonne earlier this week, up rs1,000 a tonne from the supplier's minimum price at the start of last week. "Two weeks ago I paid rs 65,000 / ton for 100 tons including the same freight, as some customers need to prepare stocks before Christmas and I received three times more inquiries this week than in early November," the trader said on Wednesday. Given the positive enquiries, he believes the Indian market for ferrosilicon at 70%min will rise to rs 66,000 / t in the coming week.

The company's silicon iron monthly regular trade volume of 200 tons, November sales volume of about 200 tons, is expected to increase to 300 tons in December due to the inquiry, there is no inventory.

Another trader in India said 70%min of ferrosilicon from a bhutanese ferrosilicon dealer in the Indian market is currently quoted at rs 67,000 / t ex-works cash. "I make a counter-offer to 63000 rupees per ton purchase 200 tons of goods, the supplier said if I order today, he can accept the lowest price is 64000 rupees per ton, than his bottom line prices early last week 1000 rupees per ton," said on Wednesday the traders, and that he is the last time in late November 200 tons to 63000 rupees ($/ ton factory cash, because Bhutan two ferrosilicon plant shut down two weeks ago, his suppliers to raise prices this week. As Christmas is coming, he has received many inquiries from foreign customers this week for pre-holiday preparation. He believes that 70%min price of si-fe in India will rise to 65,000 rupees/ton in the coming week.

The company's monthly regular trade volume of silicon iron is about 400 tons, and its sales volume in November is about 400 tons. It is expected that the sales volume will increase to 500 tons due to the increase of inquiry orders in December, and there is no inventory at present.