Search Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.

Silicomanganese prices still stagnant

Keywords: Tags  silicomanganese, ferrosilicon, Chinese imports, Daniel Fitzgerald

NEW YORK — Silicomanganese reportedly is "in the doldrums" and "undervalued," with traders saying that the material has failed to record the same price gains seen by ferrosilicon since the start of 2013.

Silicomanganese continued to trade in a range of 52 to 56 cents per pound Feb. 14 , while ferrosilicon held at between 92 and 95 cents per pound.

However, while silicomanganese has fallen from a pre-Thanksgiving range of 58 to 60 cents per pound, ferrosilicon has increased from a range of 87 to 90 cents before the November holiday.

"Silicomanganese is clearly undervalued in the low 50s compared to where ferrosilicon is," one trader said.

Traders told AMM that ferrosilicon prices firmed this past week, particularly with a reported lack of cheaper imports entering the market.

"A lot of Chinese material didn’t come in because it’s not competitive. They’ve not really been talking because of the Chinese New Year (holiday), though," a second trader said.

The first trader said silicomanganese’s relative pricing weakness was contributing to a lack of imports from Europe, with the euro currently equivalent to about $1.34. "If you compare to the European transacted prices today and multiply that by the exchange rate, you come to a price of about 57 cents. Unless the U.S. can get up to that level, it’s all going to stay in Europe," he said.

Meanwhile, two silicomanganese traders told AMM of a request for quote for around 500 tonnes from a major electric-arc furnace steel mill, although it was not confirmed first-hand.

"Silicomanganese is still in the doldrums, but there are some major (requests for quotes) out there," a third trader said.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends