NEW YORK Traders continue to be nonplussed over flat silicomanganese pricing amid expectations of an increase.
AMMs silicomanganese prices held in a range of 53 to 57 cents per pound March 28 as rumors swirled of silicomanganese being offered as low as 52 cents.
"Im scratching my head as to why prices are as low as they are. I cant see how anyone can sell at 52 cents per pound based on the replacement costs right now," one trader said.
Two other traders predicted that silicomanganese prices could rise shortly, noting that the material was trading in a range of 72 to 75 cents per pound at the end of March 2012.
Purchases made by Nucor Corp. earlier this month for the rest of the year have been taken by some as an indication that consumers foresee a price increase (amm.com, March 8).