Ferro Silicon market in India has been witnessing improved demand thereby sentiment is bullish and prices are expected to remain firm.
Indian steel sector has been observed to be back on track after suffering from lackluster demand. The profit margin in steel-making business has also gone up, encouraging its production. Europe along with India has pushed the demand for Bhutanese Ferro Silicon upwards. The offer for Ferro Silicon grade 70-75% is stable at INR 67,000/MT (Ex-Bhutan).
In line with firm prices in Bhutan, Ferro Silicon producers in India have also kept their offer prices firm. Indian Ferro Silicon offers are at around INR 65,000/MT (Ex-Guwahati) for the aforementioned grade.
SteelMint assessed that deals have been concluded at current offers and producers are totally booked out for delivery till mid-March. Moreover, it has also been heard that Ferro Silicon is currently not being imported by India from Malaysia.
As per the current scenario of Ferro Silcon market, possibility of any downward correction in its prices is non-existent.
Leave a Reply