Ferro silicon prices have found support at current levels, showing very little indication of change.
Market sources reported of stable market conditions. Ferro silicon prices in Bhutan remain steady on resilient end-user demand. Currently grade 70-75 is being offered at INR 67,000/MT (Ex-Bhutan). Producers in Bhutan said there were receiving good demand from Indian companies.
However, Bhutanese producers reported of a bearish export market, as demand from European nations had visibly decreased. A source revealed offers were around USD 1160/MT CIF Europe. No deals could be confirmed this week, but most buyers and sellers agreed as USD 1160/MT to be a realistic price.
“Ferro Silicon market in Bhutan is steady and there is nothing major happening in the market to move prices now,” stated a producer from Bhutan.
Indian Ferro Silicon Market Stagnant
In the Indian market there is low but constant demand for the material with prices remaining unchanged. In Guwahati ferro silicon grade 70-75 is being offered at around INR 65,000/MT. Indian producers reported that production is comparatively low in the market to balance the demand which is also presently low.
A producer source from Guwahati remarked “Ferro silicon demand has been moderate this month but no positive sentiment exists for increasing prices domestically.”
Market sources continue to cite a thinly traded market and suggested that the low trading volume has prevented any movement in prices.
Exchange Rate : 63.5
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