Ferro Silicon offers witnessed stability as the market remains favorable for the commodity.
“We are getting a good number of inquiries and are comfortable with the increasing demand for the commodity,” said a Guwahati based producer discussing the present Ferro Silicon trend.
Ferro Silicon offers are assessed at INR 84,000/MT (Ex-Guwahati) and INR 83,000/MT (Ex-Bhutan). “The freight charges and duties provide Indian producers an edge over us,” said a source from Bhutan explaining the reason for buyers avoiding the arbitrage.
Demand from the overseas market has returned as European buyers started inquiring. However, market participants closely monitored the market direction and rising steel prices, and also cutback of Ferro Silicon production in the Chinese market.
Ferro Silicon export offers are assessed in the range of USD 1,370-1,380/MT FOB Kolkata.
The future outlook for Ferro Silicon remains bright with offers expected to remain stable and any downswing in prices is highly unlikely.
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