The Ferro Silicon market started the week quietly, with prices still pressured by a scarcity of keen buyers and overall pessimism about the near term.

Bhutan Ferro Silicon prices were unwavering this week after price slipping last week, with sources reporting no export enquiries. Prices for Bhutan Ferro Silicon (grade 70-75) are currently settled around INR 76,500/MT. There was an absence of deals, bids and offers in the export market.

[su_quote]A trader from Bhutan remarked, “The market has been quiet for the last couple of weeks as European players are absent from the market.”[/su_quote]

In line with steady prices in Bhutan, Ferro Silicon producers in India also keep their prices firm. Ferro Silicon (grade 70-75) in Guwahati is hovering around INR 74,000-74,500/MT. In Raigarh prices stand at INR 78,500- 79,000/MT. Demand for Ferro Silicon in the domestic market is stable and there is ample supply of material in the market.

[su_quote]“I personally feel that the market might be slightly better after January with some slight upside movement”, stated a producer source from Meghalaya.[/su_quote]

SteelMint assessed that market conditions are unlikely to change this month and price to remain steady on balanced demand as market sources are also not expecting much activity over the next month or two.

Exchange Rate: USD 1= INR 61.93