Silicomanganese buyers look to secure material for 1st qtr.
Dec 04, 2009 | 07:57 AM
| Tom Jennemann
U.S. silicomanganese prices have softened to the point where a number of large and medium-sized consumers are looking to lock down material for the first quarter.
"There's no doubt that silicomanganese has traded off a little," one U.S.-based trader said. "Somewhere in the low 60-(cent-per-pound) range seems to be the consensus."
Traders put silicomanganese in a range of 61 to 64 cents per pound, down from 65 to 68 cents two weeks ago.
One reason for the drop in prices is a seasonal slowdown in steel production, market participants said. U.S. raw steel output fell 2.7 percent to 1,499,000 tons in the week ending Nov. 28, its second consecutive weekly decline, according to the American Iron and Steel Institute. ....
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