Bullish sentiment in the market drove the Ferro Silicon prices upwards. An increase of INR 1000/MT has been registered in Ferro Silicon Prices.
Demand for Bhutanese Ferro Silicon have been observed to be flourishing. The European market could be seen as the major buyer of Bhutanese Ferro Silicon, hence boosting its demand. The current offer for Ferro Silicon grade 70-75% is at INR 67,000/MT (Ex-Bhutan).
In line with steady prices in Bhutan, Ferro Silicon producers in India have also kept their offer prices firm. Indian Ferro Silicon offers are at around INR 65,000/MT (Ex-Guwahati) for the aforementioned grade.
Export offers for Bhutanese Ferro Silicon has remained unchanged at USD 1,045/MT (FOB Kolkata) regardless of temporary correction of Malaysian Ferro Silicon prices earlier.
SteelMint assessed that in the coming 1-2 weeks, Ferro Silicon market in India should run steadily.
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