[Ferro-Alloys.com] Indian ferro silicon prices remain stable despite moderate demand from the domestic market. Currently, the prices are at INR 80,000/t both in Bhutan and Guwahati. However, some bulk deals have been done at lower prices also.
BIS certification deadline for quality conformance of ferro silicon is approaching and there is no update on the extension. However, there is a high possibility that the deadline will be extended, yet the producers of Guwahati believe that there will be panic and therefore are holding back sales. Only ten producers could get the certifications yet, and all of them are the Indians.
Worldsteel has reviewed its Short Range Outlook (SRO) for 2020 and 2021 to show a much smaller demand decline than previously expected, as the sector recovers from the impact of the coronavirus pandemic, the association of world steel producers stated Oct. 15.
China's strong recovery will mitigate the reduction in global steel demand this year while the post-lockdown recovery in steel demand in the rest of the world has been stronger than was earlier expected, but still shows a deep contraction in 2020 with only a partial recovery expected in 2021.