India: Ferro Silicon Prices Stable amid Improving Demand

Ferro Silicon prices in India are still unchanged, but the sentiment seems to be turning towards positive. Some of the major producers reported that they have steady demand and are mostly sold out.

Producers in Guwahati have raised the offer prices as there is lesser inventory for spot sale with them. Bhutanese producers have however maintained their prices at lower levels despite good demand, but are likely to increase their prices in line with the raised Indian prices.

Producers from Bhutan are offering Ferro Silicon at INR 71,000/MT Ex- Bhutan. Ferro Silicon prices Ex-Guwahati is in the range of INR 72,000-72,500/MT. However, a deal for 500 MT was heard to be concluded at INR 72,500/MT. In the export market, prices remained unchanged for Ferro Silicon (75%) at USD 1160/MT FOB Kolkata.

On the Future Outlook, Ferro Silicon prices have a decent chance to rise from here owing to steady demand and low selling pressure. Market sources are of the view that with rising demand the offers may increase next week from Bhutan.