Bulk alloys markets in Europe and India look set to trade under persistent pressure from a lack of demand in the near term, with weekly price falls raising the prospect of production cuts, according to industry sources.
In Europe, the ferro-silicon market fell to a near three-and-a-half-year low in the week to July 10 after briefly stabilizing the previous week. Sustained weakness in steel, particularly in the stainless steel sector, has been weighing on demand for feedstock - especially for prompt shipment.Carbon steel producers are shutting production on average for around three weeks, while stainless steel production is being shut for up to five weeks. On average each year, steel production is typically...