Indian Ferro Silicon offers maintain stability while market witnessed regular and constant buying.
“Inquiries for the commodity remains unaltered in the domestic market as our stock is getting realized with ease,” said a producer source. We are low on inventory as well, he added further.
Another source mentioned that traders have decent inventory levels, which was purchased at lower prices earlier, and are now selling it at current levels. However, he further said, that competition among the traders has restricted the prices.
SteelMint assessed Ferro Silicon offers at INR 94,000/MT (Ex-Guwahati) and INR 93,000/MT (Ex-Bhutan).
Demand from overseas remains soft as European buyers have already replenished their desired inventory but trades on urgent basis are being concluded at USD 1,400/MT FOB Kolkata.
Moreover, Bhutanese suppliers are witnessing some issues regarding logistics as previous losses due to theft during transit is still a concern.
On the future outlook, Ferro Silicon offers are expected to remain stable until the overseas demand rebounds.
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