Ferro Silicon prices are expected to remain unchanged in the near-term. The elevated prices have been well accepted in the market and is observed to be intact.
The current offer for Ferro Silicon grade 70-75% is at INR 66,000/MT (Ex-Bhutan). The Bhutanese producers are seen to be optimistic about the market as they are no longer sitting on huge inventories and on demand from India having improved. The European buyers have also showing keen interest in procuring Bhutanese Ferro Silicom, leaving the prices firm.
In line with steady prices in Bhutan, Ferro Silicon producers in India have also kept their offer prices firm. Indian Ferro Silicon offers are unchanged W-o-W at INR 64,000/MT (Ex-Guwahati) for aforementioned grade.
Earlier, Malaysian producers have corrected their price temporarily to clear the stocks but Bhutanese Ferro Silico offers were left untouched. Export offers from Bhutan remain unchanged at USD 1,045/MT (FOB Kolkata).
SteelMint assessed that in the coming 1-2 weeks, Ferro Silicon market in India should run steadily and prices may stay at current levels.
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