NEW YORK Medium- and
low-carbon ferromanganese prices rose slightly this past week
as suppliers, eager to raise tags from what some say are
unsustainable levels in the face of a possible tightness in the
market, are pushing their prices higher.
"Nobodys bringing stuff
in. Something might happen in the next 30 days," one supplier
"Prices have simply got to go
up," a second supplier said.
Medium-carbon ferromanganese is
now trading between 87 and 90 cents per pound compared with 85
to 90 cents previously, with two truckloads reportedly sold
intertrade at the low end of the range this past week.
Meanwhile, low-carbon ferromanganese is between 97 cents and $1
per pound vs. 96 cents to $1 per pound, with truckloads
reportedly sold at 97 and 99 cents per pound.
Sources reported offering
low-carbon product at more than $1 per pound this past week,
although no sales have been made at those levels.
Dongbu Metal USA Inc., a
subsidiary of South Koreas Dongbu Metal Co. Ltd. and one
of the largest suppliers of refined manganese alloys to the
domestic market, said in October that it was reducing shipments
of the material due to low prices (
amm.com, Oct. 12).