The ferro silicon market is subdued amid slack demand as prices are down marginally.
Ferro silico prices in Bhutan have dropped marginally due to lackluster demand. However, any major fall has not been seen as there is limited supply of the material. Current offers for grade 70-75 are balanced at INR 67,000/MT (Ex-Bhutan). Bhutanese producers reported of shortage of supply as most companies are fulfilling bulk orders. Export market is presently weak and ferro silicon is being offered at around USD 1,100/MT FoB Kolkata.
A producer from Bhutan stated, “Demand is still stagnant but a little supply tightness, coupled with better demand could trigger a price rise.”
Indian Ferro Silicon Market Unchanged
Indian ferro silicon market saw no changes in terms of price movement. Market sources reported that although demand for the material has increased, prices have remained unchanged. Currently, grade70-75 is being offered at around INR 65,000/MT (Ex-Guwahati).
“Ferro silicon prices remain unchanged with balance in demand-supply fundamentals. Although, demand is returning into the market, prices are at the same level. I am expecting the market to change soon,” stated a producer from Meghalaya.
Market watchers are uncertain about any price rise, although most of them expect market condition to change soon.
Exchange rate: USD 1 = INR 63.5
Leave a Reply