Indian ferro silicon prices have gone up on international cues. Domestic producers are confident of demand coming in as the international prices are much higher, and which has reduced the threat of imports. The current scarcity of containers is also adding up to the positive sentiments of the domestic producers.
Earlier, the western states of India used to depend on the imports as the logistics cost was higher from Bhutan or North-eastern states of India, but now due to reduced imports domestic producers are sure that there will an increase in demand from the western region as well.
Moreover, increasing prices of steel is yet another reason for such bullishness among the ferro silicon producers.
Producers in India are holding on to their stock as they believe that the prices will rise further. Meanwhile, few deals were concluded at higher prices, which encouraged the producers to increase their offer prices further. Also, the cost of production has increased due to increased imported carbon material prices.
Current assessment of ferro silicon in Guwahati and Bhutan both are at INR 85,000/t for bulk orders, while, only a few deals were recorded at higher prices than the mentioned levels for small quantity deals.
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