Ferro silicon prices moved up as fresh buying emerged in the market on positive steel sentiment.
Bhutan ferro silicon prices inched upwards on higher deals. SteelMint assessed the prices for grade 70-75 at around INR 60,000/MT (Ex-Bhutan).
Prices of ferro silicon rose this week in Guwahati as sentiment firmed on strong steel demand. SteelMint assessed the prices for grade 70-75 at around INR 58,000-59,000/MT (Ex-Guwahati).
Prices have gone up as the sentiment has improved. This uptrend in prices is likely to prevail in the near term, at least until March-April, but long-term fundamentals are still not clear.
Market sources said buyers have similar price ideas at the moment and there is a strong impetus for Ferro Silicon prices to remain firm..
Also, an import deal was heard to be concluded for delivery in end-March from Russia for Ferro Silicon (75% grade) at USD 840/MT CIF Vizag.
Exchange Rate: USD 1= 66.7
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