India: Ferro Silicon Prices Remain Firm in Active Market

Ferro Silicon offers witnessed stability as the market remains favorable for the commodity with healthy demand.

"Demand for Ferro Silicon in domestic market also remained intact and we are getting a good number of inquiries but are unable to raise our offers as major mills from Bhutan have set a low benchmark," said a producer source expressing his concern.

Amid healthy buying activity, Bhutan based Ferro silicon producers have kept the mainstream prices for 70-75% grade unchanged, with deals being concluded at around INR 1,00,000/MT (Ex-Bhutan).

Indian Ferro Silicon prices also remain supported by firm Bhutanese Ferro Silicon prices, leading to deals being concluded at firmer levels. SteelMint weekly assessment for Ferro Silicon (grade 70-75) is at INR 1,01,000/MT (Ex-Guwahati).

"Europe has been the primary market for us so far as realization rate in the region is pleasingly higher," said a Bhutanese producer.

SteelMint assessed export offers of the commodity at USD 1,720/MT FOB Kolkata.

On the future outlook, market participants expect the Ferro Silicon offers to remain relatively firm while the possibility of a slight change cannot be ruled out.