Buying activity of Ferro Silicon in the Indian market remains low with few deals concluded. The low demand has led to a marginal softening of offer prices, although further downfall of prices is not expected due to low availability of Ferro Silicon in the Indian market.

Ferro Silicon scarcity remains in the Indian market as there is less material on offer from Bhutan. The Indian market has a shortage of Ferro Silicon as Bhutanese producers exporting most of the material to other nations as exports are free on tax in Bhutan. Bhutan Ferro Silicon (grade70-75) is being offered at around INR 77,000 /MT.

Deals were heard to be concluded from Bhutan for other countries such as Italy and Germany. A source revealed that they have concluded deals, in the range of USD 1320-1350 /MT CIF Europe.

In Guwahati Ferro Silicon (grade70-75) is being offered at around INR 74-500-75,000 /MT. The buyers of Ferro Silicon are being cautious in their approach, and there is visibly less demand at such price levels. In spite of the Rupee depreciating producers in both Bhutan and Meghalaya are unable to maintain high offers and subsequently have reduced their offer prices to garner greater buying interest.

SteelMint assessed in the near future market price should prevail at current level, however, some producers may increase the output of Ferro Silicon, as some end- users have started to replenish their stocks which could have an impact on the prices.