Indian Ferro Silicon prices remains firm on rising trade amid strong steel fundamentals.
“Most of the producers are already booked for the month as demand for the commodity is good,” said a producer source reflecting on the increasing number of inquiries for Ferro Silicon.
Another source mentioned of a definite rise in offer prices of the commodity on account of increasing demand of the same.
SteelMint assessed Ferro Silicon prices at INR 71,500/MT (Ex-Bhutan) and INR 72,000/MT (Ex-Guwahati).
Export offers, on the other hand, have risen along with the increasing inquiries from overseas markets coupled with spate of spot trades. The current export offer was assessed at USD 1250/MT FOB Kolkata.
“We are mostly focusing on the export market due to high realization rate,” said a Bhutanese producer.
Market participants were observed to be optimistic on the present trend and are expecting to escalate offers for new bookings.
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