Ferro silicon prices remained unchanged, although trading activity was relatively good. Market sources reported likely shortage of supply, which may raise prices.
Ferro Silicon market in Bhutan remains unaltered with prices at the same level. Currently price for grade 70-75 in Bhutan is settled at around INR 67,000/MT. Bhutanese producers reported of shortage of supply in the market for which prices are likely to rise. The export market witnessed moderate demand from European buyers. Ferro Silicon is being offered at around USD 1,100 /MT FoB Kolkata.
“Currently there is limited supply in the open market and prices can rise for this reason,” stated a producer source from Bhutan.
Indian Ferro Silicon Prices Firm
With supply tightness in Bhutan and good demand from Indian buyers, there is a strong impetus for ferro silicon prices to remain firm and perhaps strengthen in the coming month. Currently, grade 70-75 is being traded at INR 65,000/MT (Ex-Guwahati).
A producer source form Meghalaya stated, “Ferro silicon prices remain unchanged with considerably good buying. I am expecting the market to change soon”
SteelMint assessed that ferro silicon prices would be ascertained by demand-supply fundamentals, and the rainy season to not have much of an impact.
Exchange Rate: USD 1 = INR 63.4
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