Ferro Silicon market saw no change in terms of prices although market participants are anticipating market to soon get better as demand is picking up.
In Bhutan, the market remains unchanged on steady demand. Prices for Bhutan Ferro Silicon (grade 70-75) are currently settled at around INR 76,500- 77,000/MT. In the export market, Ferro Silicon is being offered at USD 1,400/MT CIF Europe. Demand in the export market was resilient.
[su_quote]A Bhutanese producer stated, “Ferro Silicon prices remain unchanged with considerably good buying. This has lead to deals at firmer levels.”[/su_quote]
Indian market also witnesses no change in terms of prices. Current price of Ferro Silicon (70-75) is at around INR 73,000/MT in Guwahati, unchanged W-o-W. Power tariff have increased in the state of Meghalaya and so, Ferro Silicon producers would likely to increase their offers soon.
[su_quote]“Demand is returning into the market and I am expecting the market to change by next week,” remarked a Meghalaya based producer.[/su_quote]
SteelMint assessed that buyers of Ferro Silicon have returned to the market as the Indian Rupee is strengthening, due to which prices will rise in the coming weeks.
Exchange Rate: USD 1= INR 59
Leave a Reply