Prices of ferro silicon continued their uptrend on resilient demand and tight material availability.
Bhutan ferro silicon prices rose on slew of trades, as buyer’s s have accepted prices at higher levels and are looking to buy before prices increase further. With improvement in demand and commitment to fulfill bulk orders, the market is facing some shortage in supply for which prices are gaining.
SteelMint assessed currently, grade 70-75 is being traded at around INR 63,000/MT (Ex-Bhutan). Few producers are offering ferro silicon at INR 64,000/MT (Ex-Bhutan) but deals were yet to materialize at this level, although market participants are anticipating that in the coming week ferro silicon prices will increase.
Export offers from Bhutan were not heard as there is an absence of bids and deals from European nations.
Domestic Ferro Silicon Prices Rise on Better Demand
In line with the increased prices in Bhutan, Indian producers have also been able to raise their offers. Indian producers stated there is better buying interest from end-users.
SteelMint assessed currently, grade 70-75 is being offered at around INR 61,000/MT (Ex-Guwahati).
Market sources are predicting prices to rise as there is good demand along with shortage of supply.
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