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) arent 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, youre 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 years previous low of 2,479 tonnes, recorded in October, according to the latest figures from U.S. Customs and Border Protection.