Ferro Silicon prices remain unchanged on steady domestic demand. Sources said market appeared to be bullish.
Bhutan Ferro Silicon market was quiet on limited spot trade without any boost in inquires. Currently, grade 70-75 is being offered at around INR 77,000/MT (Ex-Bhutan). Supply of Bhutanese Ferro Silicon into India remained constrained as few plants in Bhutan are shut. Producers in Bhutan are offering Ferro Silicon for exports at USD 1,370/MT FoB Kolkata.
Indian Ferro Silicon market prices remain steady as demand for the material improves. Current price for grade 70-75 is around INR 75,000/MT (Ex-Guwahati). Indian producers reported of shortage of supply in the market, as few small plants in Meghalaya are not operating and so prices are likely to increase. Along with this, there is good demand from Indian Stainless Steel producers.
[su_quote]“I am assuming that prices will increase by next week as there is some scarcity of Ferro Silicon in the market, supported by improving demand,” stated a producer from Meghalaya.[/su_quote]
On the outlook, market watchers expect prices to rise by upto INR 1,000/MT in next 10-15 days, as there is shortage of material along with decent demand from end-users.
Exchange Rate: USD 1= INR 61.12
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