Ferro silicon prices were steady this week, as offers from sellers remain supported by constant demand in the domestic market.
Amid stable buying activity, Bhutan based Ferro silicon producers have kept the mainstream prices for 70-75% grade unchanged, with deals being concluded at INR 78,500/MT (ex-Bhutan). Export offers remain flat this week with most international buyers not inquiring for the material. Ferro silicon is being offered at around USD 1,320/MT FoB Kolkata.
“Market in Bhutan is steady and there is nothing major happening in the market to move prices now,” stated a producer from Bhutan.
Similarly, in the Indian market, Ferro silicon prices remain static. In Guwahati, 70-75% grade is being offered at INR 76,500/MT. Market sources are of the view that prices should not fall anytime soon, as supply would be restricted in the winter months.
SteelMint assessed there is a strong impetus for Ferro silicon prices to remain firm and perhaps strengthen in the coming winter month.
Exchange Rate: USD 1= INR 61.65
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