Bhutan ferro silicon prices rise on the back of support from tight supply.
Prices in Bhutan started the week on a higher note as the market faces a supply crunch. Grade 70-75 is being offered at around INR 68,000/MT (Ex-Bhutan). Producers reported of shortage of supply in the market as they are occupied in fulfilling their long-term contracts, along with good demand from Indian Stainless Steel mills. In the export market no deals were confirmed as there is no material to offer and prices remain unchanged at USD 1100/MT FOB Kolkata.
A producer from Bhutan stated, “Ferro silicon prices will remain at these levels in this month as we do not have any selling pressure as we are fulfilling our contractual agreements.”
Market sources reported of bulk orders and manufactures are gearing up to fulfill these contracts, hence, limited material will available in the open market, prompting manufactures to raise their offers.
Ferro Silicon Prices Remain Steady in the Domestic Market
In the Indian market ferro silicon prices keep firm, and sources reported of good demand from foundries as there is shortage of supply from Bhutan. Grade 70-75 is being offered at INR 65,000/MT (Ex-Guwahati). SteelMint assessed that ferro silicon market is likely to remain stable in the near-term.
A producer from Meghalaya remarked, “Sentiment is reasonably positive in the market and we are expecting prices to remain well supported on strong domestic demand.”
SteelMint assessed ferro silicon market has found some hopeful expectations for future price increases as demand has picked up.
Exchange Rate : USD 1 = INR 63.5
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