India’s spot price for Ferro Silicon remained unchanged w-o-w, on lackluster demand and limited supply, market sources said.
Current price of Ferro Silicon (70-75) is Rs. 66,000 /MT in Guwahati, Rs. 69,000-70,000 /MT in Raipur. In Bhutan Ferro Silicon (grade 70-75) is being offered in the range of Rs. 66,000 – 67000 /MT (Ex-Bhutan). Prices mentioned are basic.
A source at one of the major Ferro Silicon producers in Bhutan revealed that they have cut production by 50%, as buying interest from India has subsided. Key Bhutanese Ferro Silicon suppliers in India also echoed similar sentiments, stating that transactions were few and far between this week. A Ferro Silicon producer based in Meghalaya admitted that trade for Ferro Silicon was scant, as most mills have postponed their purchases due to a pessimistic steel outlook in India.
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