India: Ferro silicon prices remain unchanged amidst stable demand

Indian ferro silicon prices remain stable as the demand-supply dynamics stabilized from Bhutan. Meanwhile, in Guwahati, most of the producers are low on inventory as they are either booked for the month or are catering to government orders.

Currently, ferro silicon prices are assessed at INR 77,500/t Ex-Bhutan and INR 78,000-79,000/t Ex-Guwahati, both unchanged w-o-w. Meanwhile, the export market remained absent as the international prices are much lower than the Indian domestic prices. Also, imported material from Russia and Malaysia have got quite a significance in the past few months.

Producers of ferro silicon are of the view that ferro silicon prices might hover at this range for now as the demand is robust. There is a rise in steel prices, and it might be a good sign for the ferro silicon market, commented a north-eastern ferro silicon producer. Meanwhile, a major producer from Bhutan shared similar sentiments and also stated that the international prices are too low to compete and conclude any export deals.

Outlook
Prices of ferro silicon are expected to remain stable in this week. Meanwhile, there are chances that the prices might go up as the positive sentiment for steel intensifies.