India: Ferro Silicon Prices Remain Stable W-o-W
Indian Ferro Silicon prices remain stable amid short supply situation in Bhutan and Guwahati. Meanwhile, the supply of raw materials is still a concern for the producer. the Ferro Silicon smelters are almost booked for the month.
Due to the Corona Virus outbreak in China, major ports and transportation within the country are hugely affected. Most of the Carbon needs for Ferro Silicon production is met by China, but due to the extended Chinese New Year holiday the supply-demand chain was hampered and most of the producers in India and Bhutan are worried about the raw material supply.
In the domestic market, the offer prices for Bhutanese Ferro Silicon increased to INR 90,000/MT Ex-plant for 70% grade. Meanwhile, offers from Guwahati based producers are also at around INR 90,000/MT Ex-plant. In the export market, inquires have increased, but the producers are reluctant as the domestic prices are more beneficial in the present market conditions.
On the future outlook, the producers feel that the prices may remain stable for now amid bullish sentiments.
source: SteelMint
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