Ferro silicon market conditions are stable as buying interest remains positive from end-users.
Ferro silicon prices in Bhutan are at the same level W-o-W. 70-75 grade is being offered at around INR 78,500/MT (ex-Bhutan). The export market is dull as demand from European buyers is still weak. It is being offered at around USD 1,320/MT FoB Kolkata.
Although, buying interest is good, Indian Ferro silicon prices remain unchanged, leading to deals concluded at considerably firmer levels. In Guwahati, 70-75% grade is being offered at INR 76,500/MT. Indian Ferro silicon producers are hopeful for some upward price movement in the next month and any possibility of price correction is ruled out.
SteelMint learned from sources that Ferro silicon market seems to be encouraging as most market participants are holding an optimistic outlook because of good demand. It is expected prices could rise in the coming month.
Exchange Rate: USD 1 = INR 61.43
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