Ferro silicon market remained firm this week on tighter supply along with steady demand from end-users.
Ferro Silicon prices remained unchanged in Bhutan, although trading activity was relatively good. SteelMint assessed grade 70-75 weekly ferro silicon price at around INR 62,000/MT (Ex-Bhutan). Few bulk deals were also heard to be concluded at INR 61,000/MT.
In the exports market Bhutanese producers are offering ferro silicon at around USD 920/MT FoB Kolkata.
Indian Ferro Silicon market similarly saw no changes in terms of price movement. Prices have kept firm as the market continues to face supply crunch, due to the ongoing Bihu festival in the North-Eastern State of India. Market sources reported although demand for the material has increased prices have remained unchanged. SteelMint assessed grade 70-75 weekly ferro silicon price at INR 60,000/MT (Ex-Guwahati).
SteelMint learned from market sources that prices are should remain close to current levels for the near-term as there is tight availability of the material, along with expectation of stable demand.
Exchange Rate: USD 1 = 66.5
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