Ferro silicon prices continued to remain on the same line owing to weaker trades and an unwillingness to procure.
Bhutan based Ferro silicon producers have kept the mainstream prices for 70-75% grade unchanged, with deals being concluded at INR 75,000/MT (ex-Bhutan). However, few deals were also heard to concluded at INR 74,000/MT. In the export market, demand from European buyers is very low and Ferro silicon is being offered at around USD 1,250 /MT, FoB Kolkata; remains unchanged W-o-W.
Ferro silicon prices remain static in Guwahati, 70-75% grade is being offered at INR 72,500/MT. Market sentiment dented as lack of sales continued to concern Indian producers. Prices were already very low, but steelmakers expected further decline in prices, which prevented them from making firm commitments.
A Meghalaya based producer stated, “I don’t expect to see anything till mid-next month as there is no demand in the market right now.”
SteelMint assessed that market cannot lift much as demand from end-user is pretty week.
Exchange Rate : USD 1 = INR 61.7
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