India: Ferro Silicon Prices Edge Up on Healthy Demand

A bullish sentiment has been prevailing throughout the Indian Ferro Silicon market.

The demand for Ferro Silicon is observed to be constant in the domestic market, while its supply tightness has supported the prices to move upwards.

Amid the limited supply, a source claimed that competition among the traders is high, and that has somewhat controlled the prices from surging further.

SteelMint assessed Ferro Silicon prices at INR 93,000/MT (ex-Bhutan) and INR 94,000/MT (ex-Guwahati).

The demand from overseas markets is also observed to be firm while restricted supply has pushed the prices upwards.

SteelMint learned that some of the Bhutanese sellers have been with faced a surprisingly peculiar logistical issue as they witnessed loss due to theft of the commodity during transit.

Export offers have surged sharply to USD 1400/MT up by USD 25/MT on W-o-W basis.

On the future outlook, market participants expect a further rise in Ferro Silicon prices due to supply being lower than the demand.