Demand for Ferro Silicon is moderate in India. Currently, there is a balance in demand and supply of Ferro Silicon, creating stability in its price.
SteelMint assessed that the Bhutanese producers’ Ferro Silicon stocks have diminished and they are no longer sitting on huge inventory. This might result in its price to move up.
The Indian market may also get affected due to demand-supply mismatch. Supply tightness may prevail in the domestic market resulting in surge in Ferro Silicon prices. Currently, Ferro Silicon grade 70%-75% is being offered at INR 62500/MT (Ex-Guwahati) and INR 64500/MT (Ex-Bhutan).
Demand from European buyers brings in a positive vibe. According to a source, one of the major Bhutanese producers has recently received an export order of 3000MT from Europe. Export offers for Ferro Silicon grade 70%-75% is about USD 1,045/MT (FOB Bhutan).
BFAL, one of the major Bhutanese producers, have also started producing grade 75% material, and all of it will be utilized for the export market.
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