NEW YORK Low-carbon
ferrochrome prices dropped slightly amid lower trading
activity, while ferromolybdenum prices also eased on slack
Prices for 0.05-percent
low-carbon ferrochrome dropped to a range of $2.21 to $2.25 per
pound from $2.23 to $2.26 previously; 0.10-percent low-carbon
material eased to $2.05 to $2.10 per pound from $2.06 to $2.10;
and 0.15-percent low-carbon ferrochrome fell to $1.99 to $2.04
per pound from $2 to $2.05 previously.
"I dont think theres
any rhyme or reason to it. Some guys are prepared to sell just
to break even," one trader said.
"Theres not a lot of
activity from what Im seeing," a second trader said. "It
should be doing better with automotive and housing doing well.
But a lot of mills covered their first and second quarter
before the end of 2012, getting in on those bargain-basement
prices dropped to $12.50 to $12.75 per pound from $12.50 to $13
"Im just not seeing any
new orders coming in. The slowness weve been in since the
third quarter seems to be continuing," one producer said.
"Ferromolybdenum has been a
little under pressure," a third trader added. "Most traders
have moved away from it."
Ferrosilicon prices were steady
at 93 to 96 cents per pound, although one consumer confirmed
that his company would be looking into the market next
This prompted one trader to
suggest that a dearth of material could push prices up. "It
will be interesting to hear if theyre able to get it,"
the ferrosilicon trader said.