Considering the constant demand for Ferro Silicon in India coupled with lack of imports, offers for the commodity remains unchanged.
“We are getting a huge number of inquiries and our Ferro Silicon is getting realized at a satisfactory rate,” said a Guwahati based producer referring to the healthy demand in the domestic market.
Adding to it, a Bhutanese producer said that “we are low on inventory and demand is robust from the Indian domestic market”.
SteelMint assessed Ferro Silicon prices at INR 86,000/MT for both (Ex-Guwahati) and (Ex-Bhutan).
SteelMint learned from market sources Europe, being one of the major markets for Bhutanese Ferro Silicon has reflected softness in demand. The European buyers have fulfilled their requirements and will start purchase for next quarter in October. However, demand for Bhutanese commodity is good from other regions. Export offer for the commodity is assessed to be stable at USD 1,450/MT FOB Kolkata.
A deal was heard to be concluded from Malaysia with one of its regular clients from India at USD 1500/MT CIF for 75% grade Ferro Silicon.
On the future outlook, in view of current demand and restricted supply, sell-side participants expect Ferro Silicon prices to maintain stability.
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