Bhutanese Ferro Silicon producers cut their offers to remain competitive despite trading activities being healthy.
The Bhutanese giants have reduced their prices further to garner greater buying interest. The current offers are in the range of INR 82,000-83,000/MT (Ex-Bhutan).
However, Indian producers have met with a healthy demand from the foundries especially, with offers correcting marginally at INR 84,000/MT (Ex-Guwahati). Producers in India are of bullish view as they are claiming the foundries to increase their capacity in Southern India, which in return would increase the Ferro Silicon requirement.
Demand from overseas is also heard to be moderate which prompted the exporters to cut their prices.
The European buyers have lowered their counter offers. Export offer for Ferro Silicon is assessed at USD 1,370/MT FOB Kolkata.
On the future outlook, Ferro Silicon prices are expected to remain stable amid healthy demand.
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