NEW YORK Ferrosilicon
prices fell as short-term supply tightness eased following an
earlier increase on the back of a tender from Outokumpu
Stainless USA LLC.
Ferrosilicon slipped to a range
of 94 to 96 cents per pound from 95 to 97 cents previously,
with material said to be trading at lower volumes.
"Most of these tenders are
smaller ones, so some traders have that mentality of wanting to
cash out in todays market because it could get weaker.
Its a bird in the hand thing," one trader
The tender from Calvert,
Ala.-based Outokumpu Stainless USA reportedly prompted supply
to become "really, really tight" (
amm.com, March 22). "I think the short-term
shortage that the market realized while (Outokumpu) was in the
marketweve gotten past that now," a second trader
"Outokumpu was a big-volume tender and most people
couldnt cover those volumes, so they ended up picking it
up here and there at varying prices," the first trader