Silicon metal prices down sharply as supply surpasses expectations

Nov 10, 2004 | 09:20 AM | Kevin Foster

Prices of silicon metal have fallen more than 5 percent in the past 10 days as an unexpected surfeit of material weighed on the market.

Traders and consumers said material was changing hands at between 79 and 82 cents a pound, down from 85 to 87 cents as recently as late October.

The mating season is in full swing, and market participants said many large consumers had deals in hand for most or all of their 2005 needs. One large buyer said he bought a "significant" amount of tonnage, the majority of his company's annual requirements, for between 79 and 81 cents a pound, including delivery.....

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