Ferro silicon prices firmed up this week with producers in Bhutan reporting of not much material left unbooked.
Ferro silicon offers have risen in Bhutan as demand is resilient along with some shortage in supply from Malaysia and Russia. Currently, grade 70-75 is being offered at around INR 65,000/MT (Ex-Bhutan). Bhutanese producers have increased their offers looking into the market conditions and few deals have already been concluded at these levels. However, the export market remained flat and witnessed very low demand from European buyers. Ferro silicon is being offered at around USD 1,020/MT FoB Kolkata.
“Supply is tight during the winter months and I see our offers increasing soon. Tight supply is the fundamental”, remarked a Bhutanese producer.
Indian Ferro Silicon Producers Increase Offers
Indian Ferro silicon prices also increased slightly. SteelMint assessed that prices in India for ferro silicon is likely to increase by next week as those buyers not who are not able to get supplies from Bhutan will now look to source material domestically. Currently, grade 70-75 is being traded at INR 63,000/MT (ex-Guwahati).
A producer source from Meghalaya remarked, “Ferro silicon market should be doing much better, in line with other Ferro Alloys.”
Market participants are of the view that with good demand and shortage in supply to India, there is a strong impetus of ferro silicon prices remaining firm and perhaps, of strengthening further.
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