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Low-carbon ferromanganese prices rise

Keywords: Tags  low-carbon ferromanganese, medium-carbon ferromanganese, ferromanganese, U.S. Customs and Border Protection, Thorsten Schier

NEW YORK — Low-carbon ferromanganese prices have risen as producers desperately try to raise tags from what some say are below-production-cost levels.

“Everybody knows (current prices) aren’t sustainable,” one producer said.

Low-carbon ferromanganese prices have strengthened to between 97 cents and $1.02 per pound from 95 to 99 cents per pound previously, with a sale of multiple truckloads reported at the high end of the range this past week. Offers were recorded as high as $1.05 per pound.

“Those are the levels that we all need to be at to break even,” a second producer said.

There were no transactions recorded on medium-carbon ferromanganese, leaving prices still between 85 and 90 cents per pound. However, sources reported offers around the 95-cent-per-pound mark.

“If you want tonnage, you’re going to have to pay for it,” the second producer said. He added that he saw a looming tightness in medium-carbon ferromanganese, as both a large consumer and another producer had come to him for material recently.

Imports of ferromanganese containing between 1 percent and 2 percent carbon plummeted to 1,636 tonnes in November, their lowest level of the year. That amount was also less than two-thirds of the year’s previous low of 2,479 tonnes, recorded in October, according to the latest figures from U.S. Customs and Border Protection.

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