Ferro Silicon prices were unchanged W-o-W, with the market continuing to be pressured by moderate demand.
Bhutan Ferro Silicon market was quiet on limited spot trade without any boost in inquires. Current offers from Bhutan for Ferro Silicon (grade70-75) are settled at around INR 76,000 /MT. Exports offer in the market remain unaltered and currently, Ferro Silicon is being offered at USD 1,370/MT FoB Kolkata. There was a reluctance to purchase Bhutanese material by end-users and softer trades weighed on the prices.
[su_quote]Looking at the market condition, a producer from Bhutan remarked, “Demand has been poor over the past month or two and prices seem to be flattening out. While, there was chatter of prices remaining at same level as there is a lack of deals.”[/su_quote]
In the Indian market, there is low but constant demand for the material with prices to remain unchanged. In Guwahati, Ferro Silicon (grade70-75) is being offered at around INR 74,000 /MT. SAIL has come up with a tender of Ferro Silicon but market sources are uncertain whether there would be a price rise or not.
Market sources continue to cite a thinly traded market and suggested that the low trading volume has prevented any movement in prices. SteelMint assessed that market to remain dormant as weak demand led to softening of prices, though further downfall in prices is not expected.
Exchange Rate: USD 1= INR 60.22
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