Ferrosilicon steady; supply fears abate
Dec 02, 2010 | 12:37 PM
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Ferrosilicon prices in the United States have remained between $1.10 and $1.15 per pound as supply fears from China have subsided.
After China announced cutting ferrosilicon supply in September due to power issues, prices climbed steadily as local demand picked up (AMM, Oct. 18).
But the market expects supply to resume in January next year as power cuts ease, keeping consumers out of the market in December as they await a price drop.
"If the market is falling, why buy now, why not wait?" one U.S.-based trader said.
A second trader confirmed that prices for material from China were trending lower, making it more likely that buyers will wait. "The Chinese have started dipping off on their price," he said. ....
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