Ferro Silicon prices held mostly steady in a quiet market. There is ample supply in market; however demand in the export market is weak because of Christmas and New Year holidays.

Current offers from Bhutan for Ferro Silicon (grade70-75) is around INR 77,000 /MT. Export offers from Bhutan were not heard as there is an absence of bids and deals. Most sources expected this trend to continue until the first week of January.

Current offers from Bhutan for Ferro Silicon (grade70-75) is around INR 77,000 /MT. Export offers from Bhutan were not heard as there is an absence of bids and deals. Most sources expected this trend to continue until the first week of January.

[su_quote]A producer source from Bhutan remarked, “It will be interesting to see how buyers come out after the break. Normally, they wait for a week, but recently nobody has been buying.”[/su_quote]

In line with steady prices in Bhutan, Indian producers have also kept their prices firm. Currently Ferro Silicon (grade70-75) is being offered around INR 74,500-75,000/MT (Ex-Guwahati) and INR 78,500- 79,000 /MT (Ex-Raigarh). Indian producers reported of sluggish demand in the domestic market on top of sufficient supply of the material.

[su_quote]“Domestic demand, meanwhile, continues to hold stable and expectations are that the prices would increase if the Rupee depreciates or else it would remain at the current level,” stated a producer from Meghalaya.[/su_quote]

Market participants adopted a mixed outlook for the market post-holidays. Some anticipated a quiet start to the New Year but others expected surge in rates driven by prompt buying. SteelMint assessed that currently there is a lull in bookings and so prices should remain stable.

Exchange Rate: USD 1= INR 61.98