Indian ferrosilicon prices are unchanged w-o-w as buyers and sellers both agree on the prevailing prices. Most of the producers reported to SteelMint that they have healthy orders in hand and are fully booked for the upcoming weeks. Although, there is a minor shortfall in inquiries from the domestic market, owing to the financial year-end, yet the producers are not worried as they are confident that new orders would come in the next month.
In Meghalaya, smelters with no captive power are worried about the uncertainty regarding power supply. Although, for now, electricity is being supplied by the state, yet the ambiguity over the power supply remains. Thus, the production from Meghalaya remains unaltered in the month.
Currently, Bhutanese ferrosilicon prices are assessed at INR 100,000/t with few producers selling at slightly lower prices too. Meanwhile, in Guwahati, producers are offering at INR 101,000/t ex-works. It is expected that the prices would continue to remain stable in the upcoming weeks amidst balanced market conditions.
Meanwhile, there are good inquiries from the export market and deals have been concluded at around $1450/t fob India. Most of the deals were concluded by the Bhutanese producers and merchant exporters. Manufacturers and traders have reported that although there is still healthy demand from Europe, the chances of prices going up further is quite low.
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