Ferro Silicon market was generally quiet this week amid non-existent buying interest from most participants. Market sources said they were prepared for a quiet start to the New Year.

Current offers from Bhutan for Ferro Silicon (grade70-75) are settled around INR 77,000 /MT. Export offers were not heard from Bhutan as there was an absence of bids and deals because of Christmas and New Year holidays.

[su_quote]Looking at the Ferro Silicon market condition a trader source from Kolkata remarked, “Demand softens towards the year-end, and steel production slows. However, the market had been less volatile recently and more reflective of fundamentals.”[/su_quote]

India Ferro Silicon market also remains firm in line with steady prices in Bhutan. Currently Ferro Silicon (grade70-75) is being offered around INR 75,000/MT (Ex-Guwahati) and INR 78,500- 79,000 /MT (Ex-Raigarh).Indian producers reported the market was sluggish and most participants were either on holiday or opted to stay on the sidelines.

SteelMint assessed that market participants were optimistic about 2014 and Ferro Silicon prices would likely remain firm in the month of January.

Exchange Rate: USD 1= INR 62