Ferro Silicon market witnessed better demand this week, although prices remain unchanged. Market sources gave some hints of bullishness in the market as buying interest returns.
Ferro Silicon market in Bhutan remains unaltered with prices at the same level. Currently, price of Ferro Silicon (grade 70-75) in Bhutan is settled at around INR 76,000/MT. Bhutanese producers reported shortage of supply in the market for which prices are likely to rise. The export market witnessed moderate demand from European buyers. Ferro Silicon is being offered at around USD 1,370 /MT FoB Kolkata. With USD rate strengthening prices in the export market may also increase.
[su_quote]A Bhutanese trader remarked, “I am seeing some optimism come back to the Ferro Silicon market in Bhutan.”[/su_quote]
In the Indian market, Ferro Silicon prices increase marginally, and sources reported of good demand. Ferro Silicon is being traded at INR 74,000/MT (Ex-Guwahati). Even as there was little in the way of trade movement, Ferro Silicon market found some hopeful expectations for future price rise as inquiries picked up.
[su_quote]A producer source from Meghalaya remarked, “Ferro Silicon market is doing much better than before and finally showing some real improvement in demand.”[/su_quote]
Market watchers are assuming that market condition to change soon. SteelMint assessed that in the coming 1-2 weeks, Ferro Silicon market should run steadily with prices also likely to increase soon.
Exchange Rate: USD 1= INR 60.36
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