Ferro Silicon market conditions remain unchanged W-o-W on stable demand from participants. Markets sources anticipate market to change by the 1st week of June.
Ferro Silicon prices in Bhutan declined marginally as demand for the material gets weak. Ferro Silicon prices (grade 70-75) are currently settled at around INR 76,000 /MT. Exports offers in the market remain unaltered and currently Ferro Silicon is being offered at USD 1,400/MT CIF Europe. There was a reluctance to purchase Bhutanese material by end-users and softer trades weighed on the prices. Bhutanese producers reported of low but constant offers from India.
[su_quote]“Ferro Silicon market in Bhutan is weak and there is nothing major happening in the market to move prices now,” stated a producer from Bhutan.[/su_quote]
Indian Ferro Silicon market also witnesses no changes in terms of prices, though demand is considerably good. Currently, Ferro Silicon (70-75) prices are in the range of INR 73,000- 73,500/MT in Guwahati. Indian producers are predicting that Ferro Silicon market conditions would change by next month.
[su_quote]A Meghalaya based producer stated, “Steel prices are increasing in the market and so we are expecting that Ferro Silicon market would get better soon.”[/su_quote]
SteelMint learned from market sources that in the coming 1-2 weeks, Ferro Silicon market would not undergo much change in terms of prices. If the steel market gets better, there would be a rise in demand and prices are also expected to increase.
Exchange Rate:USD 1= INR 58.48
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