Demand for Ferro Silicon is moderate but constant in India. Currently, there is a balance in demand and supply of Ferro Silicon, creating stability in its price.
SteelMint assessed that the inventory of Bhutanese producers have diminished but no changes in prices have been observed yet. Currently, Ferro Silicon grade 70%-75% is being offered at INR 62,500/MT (Ex-Guwahati) and INR 64,500/MT (Ex-Bhutan).
There is a surge in demand from European countries such as Germany and Italy confirmed a producer source from Bhutan. Export offers for Ferro Silicon grade 70%-75% remained stable at about USD 1,045/MT (FOB Kolkata), although demand from European buyers has improved.
BFAL, one of the major Bhutanese producers, have also started producing grade 75% material, and all of it will be utilized for the export market.
Market sources revealed that the prices may surge in near-term due to supply tightness. This rise in prices will also be supported by elevated freight charge as well as high Malaysian offers.
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