With upward trend in Indian steel market, demand for ferro silicon improved pulling its prices up.
Ferro silicon sales volume have moved up depicting high demand in the market. “100% of our stock is sold and the current market scenario is very promising” mentioned a producer source from Bhutan.
On account of high demand, Ferro Silicon producers have decided to offer at stronger levels. The current offers are at INR 71,000/MT (Ex-Bhutan) and INR 69,000/MT (Ex-Guwahati).
There is an upsurge in demand for Bhutanese produced Ferro Silicon. A source at one of the major Ferro Silicon producers in Bhutan revealed that they have concluded deals with European and Bangladeshi companies in the last 10 days, at around USD 1100 /MT FOB Kolkata.
“Presently, the Indian Ferro Chrome market may not face any foreign threat as the import prices are relatively higher” mentioned a sources.
On the future outlook, SteelMint assessed that the Indian Ferro Silicon market may run steadily and demand in the spot market may stay firm, as imports from overseas is not feasible at present coupled with strengthening steel industry in India.
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