Ferro Silicon prices remain unchanged, with increased offers from producers finding acceptance with steady end-user demand. It is expected that market condition will remain unchanged till mid-October.
In Bhutan, Ferro Silicon market seems to be supported by strong buying interest from end-users. Currently, 70-75 grade is being offered at around INR 78,500/MT (ex-Bhutan). In the export market, there is fair demand from European buyers and Ferro Silicon is being offered at around USD 1,320 /MT FoB Kolkata; unchanged W-0-W.
Ferro Silicon prices remain unaltered in the domestic market. Market sources reported of healthy demand coupled with limited supply It is being offered at INR 76,500/MT (ex-Guwahati). Sources reported that prices will remain firm till mid-October and after that there might be chances of further upswing in prices.
A producer source from Guwahati remarked, “Demand for Ferro Silicon has been good this month but no positive sentiment exists for increasing prices domestically. I expect the market may get better after the Durga Puja festival.”
SteelMint learned from market sources that prices are likely to remain at this level for the near-term with tight availability of the material.
Exchange Rate: USD 1= INR 61.17
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