The Ferro Silicon market saw some gains as demand improves. Market sources reported that after a long time there were better deals this week.
In Bhutan, Ferro Silicon prices were unchanged as demand continues to be low, same as last few weeks. Ferro Silicon (70-75) is being traded at INR 75,500/MT (Ex-Bhutan), unchanged W-o-W. The export market was dull with very less trade. In the export market, Ferro Silicon is being offered at around USD 1,270/MT FoB Kolkata. Trade from European nations was weak, whereas there was resilient demand from India.
[su_quote]“There are signs that the market outlook could remain unsettled in the near term as sellers demanded stronger bids and buyers remained on the sidelines,” stated a producer from Bhutan.[/su_quote]
The Indian Ferro Silicon market saw a marginal increase in price as better demand was witnessed. Current price of Ferro Silicon (70-75) is at around INR 73,000/MT in Guwahati. Even as there was little in the way of trade movement, Ferro Silicon markets found some hopeful expectations for future price increases as inquiries picked up.
[su_quote]A producers source from Meghalaya stated, “Price levels had bottomed a lot in last month; it’s not likely for prices to be going down further. For this month, I believe market condition to remain stable.”[/su_quote]
On the future outlook, market watchers are assuming that there will be an upsurge in demand and prices are also likely to increase by the month of May. SteelMint assessed that in the coming 1-2 weeks, Ferro Silicon market should run steadily and prices may stay at current levels.
Exchange Rate: USD 1= INR 60.29
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