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The demand of ferrosilicon market in India slowed down slightly last week. After a major ferrosilicon smelter in Bhutan lowered its quotation to 127500 rupees / ton, the price of ferrosilicon in India fell slightly. But many Indian producers still insist on higher prices.
At present, the ex factory price of ferrosilicon in Bhutan is 127500 rupees / ton, and that of Guwahati is 129500 rupees / ton. Under some special payment conditions, the transaction price of Guwahati ferrosilicon is less than 129500 rupees / ton. At the same time, due to the reduction of production, China's export tariff is high, and the international ferrosilicon price rises. At present, China's ferrosilicon export price is about 1870 US dollars / ton, FOB. Prices in the Indian market are also expected to pick up in the coming weeks.
Due to many uncertainties in the delivery of ferrosilicon in Bhutan, many major buyers have hoarded inventory. Shipments from Bhutan have decreased, so supply and demand have reversed. However, it is expected that the demand in the Indian market will recover soon after the existing inventory of buyers is exhausted.
In addition, as the government of Meghalaya has ordered the closure of all illegal coke plants in East Jaintia Hills, it is expected that the northeastern states may have to face a serious coke shortage.
At the same time, manufacturers expect that the demand for ferrosilicon in the special steel industry will increase. Although the demand for low carbon steel and foundries is moderate, inquiries from the special steel industry are very active.