Indian Ferro Silicon prices down on excess supply and moderate demand. Market sources also reported of weak demand in the export market.

In Bhutan, Ferro Silicon price remains unchanged on weak export and low demand from India. Ferro Silicon (70-75) is being traded in the range of INR 76,000-76,500/MT (Ex-Bhutan). In the export market, Bhutanese producers are offering Ferro Silicon at around USD 1,290/MT FoB Kolkata.

[su_quote]“Demand in the export has weekend as there is a lack of procurement interest”, stated a Bhutanese producer.[/su_quote]

In India, prices for Ferro Silicon fall down marginally as there is oversupply in the market. Current price of Ferro Silicon (70-75) is around INR 74,000/MT in Guwahati. Indian producers reported of moderate demand in the domestic market on top of sufficient supply of the material. New plants for Ferro Silicon have emerged in India, so there is ample material available in the Indian market.

[su_quote]A producer from Meghalaya remarked, “Prices have overshot on the downside as the market is oversupplied with the material.”[/su_quote]

On the future outlook market watchers are of the view that the market will remain balanced in the short term. SteelMint assessed that in the near future, market price should prevail at current level and demand to remain stable.

Exchange Rate: USD 1= INR 62.16