Ferro Silicon prices remain unchanged, albeit a bullish sentiment prevailing in the market owing to improved demand.
“The demand for the commodity is very encouraging and we have limited inventory,” said a source justifying the current price trend.
However, another source mentioned that an artificial supply shortage has been created as a result of some traders holding back the stock purchased at low prices with an eye on better realization later.
Countering the same, a producer source said the quantity held by traders cannot determine the price, although it might bring about a little change.
SteelMint assessed Ferro Silicon prices to be unchanged at INR 92,000/MT (Ex-Guwahati) and (Ex-Bhutan).
Inquiries from overseas are also supporting the current trend, as Europe is replenishing its stock for the fourth quarter.
Export offers are assessed at USD 1,350/MT FOB Kolkata, with deals being heard to have been concluded.
As regards future outlook, market participants are of the view that Ferro Silicon prices may surge further owing to strong demand.
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