With reduced inventories – Ferro Silicon producers are not faced with any selling pressure, and there is a strong impetus for Ferro Silicon prices to remain firm and perhaps strengthen in the coming month.
Ferro silicon price in Bhutan is unchanged on steady demand. SteelMint weekly assessment for ferro silicon (grade 70-75) is at INR 63,500/MT (Ex-Bhutan).
A Bhutan based producer stated, “Although demand, meanwhile, continues to hold stable but expectations are that the prices would increase in the coming month as demand is on the rise.”
In line with steady prices in Bhutan, Ferro Silicon producers in India also keep their prices firm. SteelMint weekly assessment for ferro silicon (grade 70-75) is at INR 61,500/MT (Ex-Guwahati).
Efforts by Ferro Silicon producers to increase prices could be successful in November, as Malaysian Ferro Silicon has been booked by Japan and Korea for November and December deliveries. Moreover, Russia is unable to supply material in the winter months.
On the future trend, demand is expected to be intact and as less production is expected during the winter months, supply could be very tight in India and this could lead to shortages and future price trend would be influenced largely by the demand-supply mechanism.
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