Competition pressures ferrosilicon tags

Dec 16, 2011 | 02:39 PM | Thorsten Schier

Tags  ferrosilicon, prices fall, elkem, Thorsten Schier

NEW YORK — U.S. ferrosilicon prices have come under further pressure as increased imports from a European producer have spurred competition in an already tough environment, market participants told AMM.

"It’s like a bar fight out there every day," one trader said.

Prices have fallen to between 89 and 92 cents per pound—levels not seen since March 2010—from 92 to 96 cents previously.

Norwegian ferrosilicon producer Elkem AS has stepped up shipments to the United States recently as European prices have fallen. "They’re looking to get rid of material until the end of the year," a market source said.....

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