With reduced inventories, the Ferro Silicon market is currently exhibiting supply tightness, whereas, demand remains firm.
Amid steady demand, the prices of Ferro Silicon grade 70-75% offers ranged between INR 71,000-72,000/MT (Ex-Bhutan) and around INR 69,000/MT (Ex-Guwahati).
“Demand from central and southern parts of the country is good,” mentioned a producer source when inquired about the current market conditions of Ferro Silicon in the domestic market.
Moreover, a Ferro Silicon producer from Bhutan has revealed to SteelMint that, “Stainless steel producers from India have started showing interest towards acquiring more Ferro Silicon,” indicating a scope for market to upturn.
However, the demand from overseas market has been observed to be soft. The buyers are asking for lower offers of about USD 1,080/MT, while, it has been heard that deals have been concluded in USD 1,085/MT.
In consonance with the current sentiment, it is expected that offers are expected to remain stable in coming days, while the demand and supply for Ferro Silicon stay unaltered.
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