Ferro silicon prices recovered this week, supported by strong demand from end users.
Domestic ferro silicon prices rose on better buying interest. Indian producers stated there was a slight improvement in sentiment compared to earlier in the week on slightly more robust demand. Earlier last week Bhutan ferro silicon prices had risen by INR 1,000/MT. Looking at this Indian producers have raised their offer levels this week.
Currently, grade 70-75 is being offered at INR 64,500/MT (Ex-Guwahati).
A producer source from Meghalaya stated, “Prices were stalemate due to lack of sales. Now the prices are up by 1,000/MT on better demand.”
Bhutan Ferro Silicon Prices Remain Unchanged this Week
Last week Bhutan ferro silicon prices had risen on improved demand. Market sources gave some hints of bullishness in the market as buying interest returns. Currently, grade 70-75 is being offered at INR 64,500/MT (Ex-Bhutan).
Export offers from Bhutan were not heard as there is an absence of bids and deals. Offers remained unchanged W-o-W at USD 1,120/MT FoB Kolkata.
A Bhutanese producer stated, “Ferro silicon prices remain unchanged with considerably good buying. This has lead to deals at firmer levels.”
There is a strong impetus for ferro silicon prices to remain firm and perhaps strengthen in the coming month.
Exchange Rate : USD 1 = INR 63.8
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