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Amid low production in Meghalaya, material supply has been low and this has escalated demand for Bhutan-origin material. Earlier in this week, several deals of Bhutan-origin Ferro silicon 70-75% min were confirmed to have been concluded at around INR 78,500/MT ex-works. Export offers remain unchanged on the grounds of low demand and deals have concluded in the range of USD 1,380-1,390/MT CIF Germany & Italy.

Ferro silicon prices in Indian market remain unchanged, although trading activities are relatively good. Market sources reported of supply crunch. 70-75 grade is being offered at INR 76,500/MT (ex-Guwahati).

“The market is fairly stable and offer price is expected to remain at the same level with an upward trend, as there is visibly good demand,” stated a Meghalaya based producer.

On the outlook, market participants expect prices to rise only when steel market begins to pick up. SteelMint assessed that Ferro silicon market has found some hopeful expectations for future price rise, as demand has picked up.

 Exchange Rate: USD 1= INR 60.91

• [Editor:Sophie]