Prices in the ferro silicon market held steady, as demand remained moderate along with continued supply tightness.
Ferro Silicon prices are supported by restricted supply from Bhutan. Currently, grade 70-75 is being traded at around INR 61,000/MT (Ex-Bhutan).
Export prices in Bhutan were unchanged as the week started with no serious inquires or indication of buying interest. Producers in Bhutan reported of meek demand in the export market and are offering Ferro Silicon at USD 920/MT FoB Kolkata.
Indian Ferro Silicon Market Keeps Steady
Indian producers reported that ferro silicon prices are firm on low but constant demand in the market.
SteelMint assessed grade 70-75 ferro silicon being offered in the range of INR 59,000-60,000/MT (Ex-Guwahati). Prices have remained almost unchanged although the market was relatively active.
SteelMint learned from market sources that prices are to remain at this level for the near-term as there is tight availability of the material, along with moderate demand.
Exchange Rate: USD 1 = INR 66.3
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