Ferro Silicon prices remained unchanged, as prices have found support at these levels
On account of increased demand from the Middle-East and low production in India, Ferro Silicon producers in Bhutan continued to offer at stronger levels as they were confident of finding buyers. Ferro Silicon (70-75) is being traded in the range of Rs 71,000 – 72,000/MnT ($ 1157-1173), Ex-Bhutan.
In line with the increased prices in Bhutan, Indian producers have also been able to keep up their prices. Current price of Ferro Silicon (70-75) is Rs 70,000/MnT in Guwahati. Sources agreed that trade was limited, but seemed buoyant as inquiries were steadily rising from overseas buyers.
However, it is to be seen whether these inquiries can be converted into deals, and does it lead to increase in production levels which could cap the rise in prices.
Exchange Rate: Rs. 61.5 = $ 1
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