Demand sluggish for ferromanganese
Nov 23, 2010 | 12:03 PM
Contract negotiations in the U.S. ferromanganese market have spawned a lull in spot demand as consumers focus on securing the best deals for next year.
"It's so quiet that I haven't done anything for a while. Most of the business is done on contract. There's very little spot business," one trader said. "And what little spot business there is has been dampened by weak demand."
Contracts of varying lengths—multi-year, quarterly, monthly—are typically signed around this time each year, market participants told AMM.
The resulting sluggish market activity has seen ferromanganese prices hold at between $1,330 and $1,360 per tonne for high-carbon material. Medium carbon is still between $1.25 and $1.32 per pound; low carbon at between $1.35 and $1.40 per pound. Silicomanganese remains between 60 and 64 cents per pound. ....
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