Ferro silicon market was relatively quiet, with participants showing a lack of firm buying interest.
Bhutan Ferro silicon prices were unchanged as buyers remained absent during the seasonal holidays. The market is relatively calm as buy-side participants seemed to shrink away. Bhutan-origin Ferrosilicon 70-75% min is being offered at INR 77,000/MT. Export offers remain flat this week with most international buyers not inquiring for the material due to New Year holidays.
Indian producers have also kept Ferro silicon prices firm aided by stable prices in Bhutan. Current price for 70-75 grade is INR 74,000 /MT in Guwahati. Sources agreed that trade was limited, but seemed buoyant as they felt chances of prices to correct next year is negligible.
“Ferro silicon market is looking very bleak at the moment and I think any price uptick can only be possible in the next month if the steel market improves,” stated a Meghalaya based producer.
SteelMint assessed Ferro silicon market is subdued amid slack demand and market conditions are unchanged with stable prices.
Exchange Rate: USD 1= INR 63.2
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