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September ferro silicon international market volatility

Date:2023-09-21 03:15:01 Click:158
September ferro silicon international market volatility

The price of 70 ferro silicon in India remained stable this week due to moderate market demand and ample material supply.

 

On September 15, the ex-factory price of ferro silicon in Guwahati was Rs 105,000 / tonne. About 600 tonnes of ferro silicon were traded in the price range of Rs 104,000-105,500 / tonne. The ex-factory price of Bhutan's ferro silicon is Rs 105,300 / ton, down by Rs 700 / ton week on week.

 

Factors supporting price stability

Supply and demand imbalance: Prices in the Northeast remained stable due to lack of room for negotiation and supply and demand imbalance. There is plenty of supply on the market, but purchases are made only when necessary. Power outages slowed production for several days, but did not stop prices from climbing. Due to poor demand, the price in Bhutan has decreased from the previously announced Rs 106,000 / ton. As a result, producers have been forced to lower their offers.

 

Global market: 

The mainstream price of 72% grade in China is stable at 6,800-7,000 yuan/ton ($939-967 / ton). In September, the bidding price of ferro silicon in a large steel group in North China was 7,450 yuan/ton ($1,029 / ton), up 120 yuan/ton ($17 / ton) from the previous month, and the market expects the price to rise in the future. In addition, prices have also increased in the future. As September and October are considered the peak of ferrosilicon demand and consumption, its market is likely to expand.

 

The U.S. ferro silicon market has hit a new low, as the material is selling for about $1.02- $1.05 per pound, while factories that want to buy large quantities of ferro silicon are being offered less than $1 per pound.

Given the current market conditions, prices are expected to remain slightly range-bound. However, prices could correct further if the gap between supply and demand widens.

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