Ferro Silicon prices were unchanged last week, with the market continuing to be pressured by moderate demand.

Bhutan Ferro Silicon market was quiet on limited spot trade without any boost in inquires. Current offers from Bhutan for Ferro Silicon (grade70-75) are settled around INR 77,000 /MT. Export offers were not heard from Bhutan as there was an absence of bids and deals. Bhutanese traders reported that the export market has recently opened and buyers have not yet returned to the market.

Indian Ferro Silicon market is currently facing steady and low demand. In Guwahati Ferro Silicon (grade70-75) is being offered around INR 74,500 /MT. However, some buyers also claim to have offers at INR 74,000 for bulk purchases. Currently in Raigarh prices stand at INR 78,500- 79,000 /MT.

[su_quote]“There hasn’t been much change in the market recently. There is no major change in supply and demand fundamentals,” reported a trader from Kolkata.[/su_quote]

SteelMint learned from market sources that prices are to remain steady and trading to moderate for the rest of the month.

Exchange Rate: USD 1=INR 62