Ferro Silicon offers witnessed stability as the market remains favorable for the commodity with healthy demand.
“Demand for Ferro Silicon in domestic market also remained intact and we are getting a good number of inquiries but are unable to raise our offers as major mills from Bhutan have set a low benchmark,” said a producer source expressing his concern.
Amid healthy buying activity, Bhutan based Ferro silicon producers have kept the mainstream prices for 70-75% grade unchanged, with deals being concluded at around INR 1,00,000/MT (Ex-Bhutan).
Indian Ferro Silicon prices also remain supported by firm Bhutanese Ferro Silicon prices, leading to deals being concluded at firmer levels. SteelMint weekly assessment for Ferro Silicon (grade 70-75) is at INR 1,01,000/MT (Ex-Guwahati).
“Europe has been the primary market for us so far as realization rate in the region is pleasingly higher,” said a Bhutanese producer.
SteelMint assessed export offers of the commodity at USD 1,720/MT FOB Kolkata.
On the future outlook, market participants expect the Ferro Silicon offers to remain relatively firm while the possibility of a slight change cannot be ruled out.
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