Ferro Silicon prices have moved up to higher levels as producers were confident of finding buyers.
SteelMint assessed that on account of increased demand from Europe and low production in India, Ferro Silicon producers in Bhutan have decided to offer at stronger levels. Moreover, the Ferro Silicon inventory with Bhutanese producers is also no longer a matter of concern, and the selling pressure on the producers has vastly reduced.
Ferro Silico grade 70%-75% is currently being offered at INR 64,000/MT (Ex-Guwahati) and INR 66,000/MT (Ex-Bhutan). However, export offer remains constant at USD 1,045/MT (FOB Kolkata).
A trader source remarked that there has been an increase in Ferro Silicon offers from Bhutanese producers this week, and end-users have started to react to these increased prices, believing that prices may further increase in the domestic market.
SteelMint assessed that in the coming 1-2 weeks, Indian Ferro Silicon market should run steadily and prices may stay at current levels. 
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