Ferro silicon prices remain unchanged this week amid steady trading activity. Market sources also cited of some supply crunch.
Bhutan based producers of Ferro silicon continue to keep their prices firm. 70-75% grade is being offered at around INR 78,500/MT (ex-Bhutan). The export market is dull with low demand from European buyers. Ferro silicon is being offered at around USD 1,320/MT FoB Kolkata.
In line with steady prices in Bhutan, Indian producers have also kept their offers unchanged as they are witnessing less activity since the beginning of the month. In Guwahati, 70-75% grade is being offered at INR 76,500/MT.
A Ferro silicon producer from Meghalaya remarked, “In the coming 2-3 weeks, Indian market should run steadily and prices may stay at the current levels. But, looking at favorable prices, it is expected that few producers of Manganese alloys might shift their production to Ferro silicon.”
He further highlighted that this will in turn result in weakening of Ferro silicon prices, as currently demand-supply fundamentals are well balanced.
SteelMint learned from market sources that Ferro Silicon market is likely to remain steady and minor change is expected in terms of prices & market conditions in this month.
Exchange Rate: USD 1= INR 60.97
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