Ferro Silicon prices remain unchanged on account of steady demand from end-users. Reportedly, supply constrains remain in the market.
Ferro Silicon prices in Bhutan are unchanged W-o-W. Current price for grade 70-75 in Bhutan is settled at around INR 77,000/MT. Although, prices in Bhutan started the week on a higher note, the market faces a supply crunch. European end-users showed moderate buying interest. Export offers from Bhutan to Europe remain at around USD 1,340-1,360/MT FoB Kolkata.
Similarly, Indian Ferro Silicon market saw no changes in terms of price movement as prices had increased by INR 1,000/MT last week. Market sources continue to suggest that prices to be stable and believe that the market condition is unlikely to change in the near future, despite limited supply. In Guwahati, 70-75% grade is being offered at INR 76,000/MT.
SteelMint assessed that Ferro Silicon supply has fallen sharply coupled with a moderate rise in demand, so any downside room is expected to be limited in the near future.
Exchange rate: USD 1= INR 60.84
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