Indian Ferro Silicon Prices remains unchanged amid healthy demand in the market. Prices are likely to go up in next week.
Ferro Silicon prices in February ended up at INR 77,000/MT for both Ex-Bhutan and Ex-Guwahati . In the export market too, prices remained unchanged and stood at USD 1225/MT FOB Kolkata. Prices in February were drastically low in the first two weeks of February but the market is regaining demand and the prices are trending upwards since the third week.
In line with the recently concluded SAIL Ferro Silicon tender, dispatches have started by plants in India. Therefore, the oversupply situation of Ferro Silicon in India has diminished. Market Participants have reported that this is helping the prices to stay firm and also healthy demand is observed from Indian Steel Industries and Foundries.
On the Future Outlook, Ferro Silicon prices may uptick from here owing to high demand and low selling pressure. Market sources are of the view that with uprising demand the offers may increase next week.
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