Ferro silicon prices continue to hold ground on low but constant sales.
Bhutan ferro silicon prices have found support at current levels, showing very little indication of change as demand remains stable. Currently, grade 70-75 is being traded at INR 67,500/MT (ex-Bhutan). Bhutanese producers reported that there is recovery in demand and expect the market to get better soon.
Export offers in the market remain unaltered and currently ferro silicon is being offered at USD 1,100/MT FOB Kolkata.
“Demand is returning to the market and I am expecting the market to change soon,” stated a producer from Bhutan.
Indian Ferro Silicon Market Remains Dull
In the Indian market, ferro silicon prices were unaltered; sources report of lackluster demand. Grade 70-75 is being traded at INR 65,500/MT (ex-Guwahati). Reportedly, power tariff has increased for which producers are facing cost pressure in the market. Hence, prices had increased marginally last week, although demand continues to be poor.
With prices rising marginally, a producer from Meghalaya stated, “The market has now stopped being pushed down. I believe the market will remain stable.”
SteelMint learned that most market participants hold a pessimistic outlook towards the future market trend, as along with rising input cost, demand is not strong enough to support further gains in the price level atpresent.
Exchange Rate : USD 1 = INR 65.8
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