Indian Ferro Silicon market is witnessing sporadic deals as well as prices remain stable, although Ferro Silicon offers from Bhutan have gained marginally owing to bulk orders from India.
Ferro Silicon market witnessed better demand this week in Bhutan, as prices increased marginally. Market sources gave some hints of bullishness in the market as buying interest returns. Currently, 70-75 grade in Bhutan is traded at around INR 77,500/MT. Buying activity in the export market remains low with few deals concluded.
Deals were heard to be concluded from Bhutan for European countries such as Italy & Germany. A source has revealed that they have concluded deals in the range of USD 1,390-1,400/MT CIF Europe. Bhutanese producers reported of bulk order from SAIIL for about 14,000 MT, which needs to be fulfilled in 4 months.
[su_quote]A producer from Bhutan stated, “Ferro Silicon prices will remain at these levels in this month as we do not have any selling pressure because we are fulfilling our contractual agreements.”[/su_quote]
Indian market witnessed marginal decrease in prices as demand has stabilized. Ferro Silicon is traded at INR 75,500/MT ex-Guwahati. Indian producers have reported of good inquires and expect that the market will remain healthy in August.
[su_quote]A Meghalaya based producer said, “I expect Ferro Silicon prices will remain steady in this month, as there is limited but regular demand.”[/su_quote]
Market watchers are of the view that prices were generally in line with market expectations.
Exchange Rate: USD 1= INR 60.71
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