NEW YORK Silicomanganese is still changing hands at prices below trader expectations, held down by a lack of large-volume demand, according to some traders.
Silicomanganese prices are steady in a range of 53 to 57 cents per pound, with unconfirmed reports of transactions as low as 52 cents per pound.
Theres not a lot of silico out there. Everybody knows theres a shortage, so I dont know how its possible that prices are still so low, one trader said.
A second trader claimed that replacement costs are in a range of 55 to 58 cents per pound, but acknowledged that there arent a lot of major silicomanganese buyers left. Its all 20 tonnes here and therenone of those 400- or 500-tonne orders.
A third trader agreed. Theres a lack of serious demand, he said.