NEW YORK Ferrosilicon
prices have risen as producers chase higher quotes amid reports
of tight supply, with ferromanganese tags tipped to rise as
traders look to rebuild stocks.
Ferrosilicon has risen to 92 to
95 cents per pound from 90 to 92 cents, with one source
describing the market as "a producer ballgame."
"The Russians are trying to sell
under the Chinese. ... The Chinese (are) going for 93 to 94
(cents); even Egyptian ferrosilicon is going for 94 (cents). So
there seems to be a move up," one trader said.
"We see some strengthening in
ferrosilicon," a second trader agreed. "I think its
fairly tight in the marketplace."
ferrochrome prices moved to $2.23 to $2.26 per pound from $2.23
to $2.25, while high-carbon material was unchanged at $1 to
$1.04 per pound.
"There are still some low
sellers on low-carbon (ferrochrome) out there, though
apparently theres a bit of a shortage of 0.05-percent out
there. I expect it will be drying up in the next two weeks. ...
There seems to be upward pressure on high carbon. Youre
paying over $1 now for DLA material," a third trader said.
Ferromanganese producers expect
prices to move up soon, they said, although Jan. 31
transactions for low-carbon metal were steady in a range of 97
cents to $1.02 per pound.
"Shortages are developing,
especially with low-carbon (product). Ive informed
customers that after this month, it will be $1.05 or I
wont sell," one producer said. "The balance is coming
back in suppliers favor. A lot of traders are looking for
tonnage, so I expect the price will continue to rise."
The majority of market players
told AMM that business was still slow.
"Weve had one inquiry all
week. Everybody bought what they wanted in December, and in
January theyre covered," a fourth trader said.
"The guys who are more
auto-based are doing quite well," a fifth trader said. "Other
guys more reliant on the energy sector, its more of a