NEW YORK High-carbon
ferromanganese prices fell slightly on reports of healthy
supply, but low-carbon ferromanganese prices are still expected
to rise as rumored shortages develop.
prices dropped to a range of $10.90 to $11.60 per pound Feb. 7
from $11 to $11.80 previously, with one trader forecasting
further price drops as more material enters the market. "I do
expect more downward pressure on pricing, because theres
more production coming in," he said.
transactions were still reported in a broad range of 97 cents
to $1.02 per pound, although some traders said the majority of
business was being done at $1 per pound or above.
A second trader said he had sold
200 tonnes of low-carbon material at $1.02 per pound,
reiterating his belief that prices were likely to go up soon.
"Ultra-low-carbon ferromanganese is very inconsistent right
now. Theres been a shortage, so low-carbon is more in
demand," he said.
Traders told AMM at the
end of January that they expected to sell low-carbon
ferromanganese at around $1.05 per pound in February (
amm.com, Feb. 1), but such prices have yet to be
Traders reported an absence of
spot deals for medium-carbon material Feb. 7, with most steel
producers having locked up supplies in fixed long-term