Ferro Silicon offers remain firm and the market expects to see a further rise in prices.
“Supply crunch in the market persists and demand from the traders are quite high,” said a producer source referring to the increasing number of inquiries.
Another source revealed that most of the producers have been selling their old stock at current levels while newly produced commodities are expected to be sold at higher prices.
“I’m willing to sell the newly produced commodity at INR 1,15,000/MT,” said a confident Meghalaya producer, further adding that he will not reduce a single rupee from the same.
SteelMint assessed Ferro Silicon offers at INR 1,10,000/MT (Ex-Guwahati) and (Ex-Bhutan) while some deals are heard to have concluded at INR 1,11,000/MT.
Offers in global market also witnessed a rise where Chinese deals were heard to have been concluded at USD 2,300/MT FOB. However, Malaysia, remained committed to USD 1,900/MT, as most of its contracts are long-term.
“We are out of the market as we do not have any commodity to offer,” revealed a Bhutanese producer discussing their opinion on rising Ferro Silicon offers. Moreover, he hinted that they might increase the offers for the new batch of production. The export offer has been assessed at USD 1,900/MT FOB Kolkata.
On the future outlook, market participants are of the view that Ferro Silicon prices may climb further post-holidays.
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