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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