Ferro silicon prices remain unchanged W-o-W as buying interest remains moderate.
Ferro silicon prices are supported by restricted supply from Bhutan. Currently, grade 70-75 is being offered at around INR 67,000/MT (Ex-Bhutan). The export market continues to witness low demand from European buyers and the material is being traded at around USD 1,100 /MT FoB Kolkata.
“Ferro silicon market in Bhutan is stagnant and there is nothing major happening in the market to move prices now,” stated a producer from Bhutan.
Indian Ferro Silicon Market Keeps Steady
Indian producers also keep ferro silicon prices firm aided by stable prices in Bhutan. Current price for grade 70-75 is around 65,000/MT (Ex-Guwahati). Sources in the market suggest prices to remain stable in the market and believe that the market condition is unlikely to change in the near future.
On market condition, a Meghalaya based producer revealed, “Demand for ferro silicon is weak, but we have decided to keep prices stable, considering that we can’t stimulate transactions by lowering prices.”
SteelMint learned from market sources that in the coming 1-2 weeks, ferro silicon market should run steadily and prices may stay at current levels.
Exchange Rate: USD 1 = 63.7
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