Ferro Silicon prices remain rigid W-o-W on sparse demand from buyers. Market participants reported no possible uptick in prices is expected till mid-April.
In Bhutan Ferro Silicon prices remain steady on less demand. Ferro Silicon (70-75) is being traded at INR 75,500/MT (Ex-Bhutan) Bhutanese producers reported of moderate demand from European nations. In the export market, Ferro Silicon is being offered at around USD 1,270/MT FoB Kolkata.
[su_quote]A producer from Bhutan remarked, “The Ferro Silicon market has been dull for a long time. We are now waiting for the tender of SAIL after which prices are likely to rise.”[/su_quote]
In the Indian market Ferro Silicon prices remain unaltered. Current price of Ferro Silicon (70-75) is at around INR 72,500/MT in Guwahati. Indian producers are of the view that there is an overflow of supply of Ferro Silicon as production capacity has expanded in India and this has put pressure on prices. Also with financial year-end demand is expected to remain at a low level.
[su_quote]“The market is not very optimistic. It’s difficult to find firm offers today,” remarked a producer source from Meghalaya.[/su_quote]
SteelMint assessed that Ferro Silicon market to remain at this level and not much change is expected in terms of prices and market conditions. Most market participants are hoping that market sentiment will improve in April.
Exchange Rate: USD= INR 60.16
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