Ferro silicon market was quiet W-o-W.Sources continued citing a thinly traded market and suggesting that the low trading volume has prevented any movement in prices again.
Ferro silicon prices in Bhutan remain static due to lackluster demand alongwith limited supply. Currently grade70-75 is being offered ataround INR 67,000/MT (Ex-Bhutan).Export offers from Bhutan were not heard as there is an absence of bids and deals.
Indian Ferro Silicon Prices Unchanged W-o-W
In line with steady prices in Bhutan, Indian producers have also kept their prices firm. Currently, grade70-75 is being offered at around INR 65000/MT (Ex-Guwahati) and INR 78,500- 79,000 /MT (Ex-Raigarh). Domestic demand for the material is low as the steel market is weak and sellers are adopting a wait-and-watch approach.
“There hasn’t been much change in the market recently. There is no major change in supply and demand fundamentals,” reported a producer from Guwahati.
SteelMint assessed thatferro silicon marketwould to remain stable and would prices remain around the current levels. Market watchers are uncertain about any price rise and most of them expect that market condition to remain stable for this month.
Exchange Rate : USD 1 = INR 64
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