Producers in Bhutan are overbooked and the supply situation is also easing, except for a few minor bottlenecks for some plants. The producers in Guwahati had to lower their offers after the supply from Bhutan regularized.
The prices in Bhutan have been stable at INR 82,000/t. Although, the quotation prices by a few producers in Guwahati are a bit higher at INR 84,000/t, transactions are taking place at INR 82,000/t.
A Bhutan based producer shared with SteelMint, “The international market has picked up since last week, and the prices of Malaysian ferro silicon increased to $1,050-1,060/t. However, no shipments can be expected to reach Indian shores before November, therefore, the possibility of imports can be ruled out.”
“With the increasing demand, there are expectations that exports might start soon if the prices reach the $1,100/t levels.”, he added.
Another producer from Guwahati commented that the prices were much higher last week, but this week, they couldn’t book anything above INR 82,000/t as the buyers are firm with their counteroffers.
Future Outlook
Prices of ferro silicon might be stable for the week. The demand is expected to increase by next week as the buying for next month starts.
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