Steady demand coupled with limited inventories with producers has encouraged Ferro Silicon producers to hold their prices firm.
Amid healthy buying activity, Bhutan based Ferro silicon producers have kept the mainstream prices for 70-75% grade unchanged, with deals being concluded at around INR 84,000/MT (Ex-Bhutan).
Indian Ferro Silicon prices also remain supported by firm Bhutanese Ferro Silicon prices, leading to deals being concluded at firmer levels. SteelMint weekly assessment for Ferro silicon (grade 70-75) is at INR 85,000/MT (Ex-Guwahati).
However, inquiries from overseas are not as good as expected. “Most buyers from Asian continent are focusing to purchase from China at low offers except Europe, which imposed anti-dumping duty on Chinese commodity,” said a producer source discussing weakening demand from overseas.
“Though the export offers from Bhutan is unchanged at USD 1400/MT FOB Kolkata, but inquiries are way lower than that,” mentioned another producer source.
On the future outlook, there is a strong impetus for Ferro Silicon prices to remain firm owing to strengthening steel market in India.
Leave a Reply