Indian Ferro Silicon prices have been rising since the last two weeks in line with the shortage in supply. Producers in Bhutan and Guwahati are out of stock as they are overbooked for the month. Traders with higher inventories are controlling the market for now, and most of them are holding back their material till the next month’s prices are released for Ferro Silicon by Bhutan, which is expected to be firmer.
In the domestic market, the prices in Bhutan and Guwahati increased to INR 74,000/MT Ex-plant for 70% grade. Export prices are unchanged from India due to the December holidays. CITIC Pacific Group, Xinyu Iron and Steel, Xiangtan Iron and Steel have all finalized the bidding price in January, which has increased by about 100 Yuan/MT compared with December. Downstream industries stocked before the year-end and this has kept the international market stable in the week.
On the future outlook, Ferro Silicon prices may increase further due to supply shrinkage.
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