Ferro Silicon prices are firm as limited availability coupled with demand from end-users that have run down inventories lent support and firmed trade levels.
There has been a bullish sentiment sensed in the Ferro Silicon market. Market sources reported of good sales volumes but have kept their offers unchanged after last week’s raise.
The current price of ferro silicon grade 70-75% is firm at around INR 69,000/MT (Ex-Bhutan) and INR 68,000/MT (Ex-Guwahati).
Surge in demand for Ferro Silicon along with production being constant has created an upward momentum in the market. SteelMint assessed that the stock levels of buyers are diminished, with Steel production rising, forcing them to demand more.
“The urgency of buyers is intense enough to make them not to stick to their preferred sources and book whatever grade material is available in the market,” mentioned a producer source.
In line with the domestic price, the export offers for Bhutanese Ferro Silicon remained firm at USD 1,060/MT (FOB Kolkata).
The sentiment observed in the market depicts a clear possibility of rise in Ferro Silicon prices amid steady growth in steel industry.
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