Ferro Silicon prices remain unchanged although buying interest resume, leading to deals concluding at considerably firmer levels.
Ferro Silicon prices in Bhutan remain steady on resilient end-user demand. Ferro Silicon (70-75) is being traded at INR 75,500/MT (Ex-Bhutan). Bhutanese producers reported of bearish export market as demand from European nations had visibly decreased. In the export market, Ferro Silicon is being offered at around USD 1,270/MT FoB Kolkata; unchanged W-o-W.
[su_quote]“I believe the export market to pick up soon as dollar is weakening,” stated a producer from Bhutan.[/su_quote]
Similarly, the Indian Ferro Silicon prices were at the same level. Current price of Ferro Silicon (70-75) is at around INR 72,500/MT in Guwahati. Indian producers reported of good demand from buyers after the financial year-end and prices are likely to pick up after mid-April.
[su_quote]A producer source from Meghalaya remarked, “Ferro Silicon market is doing much better than before and finally showing some real improvement in inquires.”[/su_quote]
SteelMint assessed that market is likely to remain at same level till mid-April. Market participants are anticipating the Ferro Silicon market is soon to get better as demand has picked up.
Exchange Rate: USD 1= INR 60.23
Leave a Reply