NEW YORK The silicomanganese and ferrosilicon markets
continue to await the outcome of tenders from Nucor Corp.,
though ferrosilicon prices have ticked up slightly in the
Traders told AMM that they have yet to hear the results of
Charlotte, N.C.-based Nucors silicomanganese tender for
up to 3,300 tons of material, which is expected to give the
market significant pricing direction (
amm.com, May 24
Spot silicomanganese prices held in a range of 53 to 57 cents
per pound amid few reported transactions.
I think theyre dragging their feet a little bit on
whether or not theyll purchase, one trader said.
A second trader said that he booked 3,500 tons of
silicomanganese on a formula-based agreement with another
consumer, citing the sale as evidence the material will be in
stronger demand following news that Felman Production LLC will
soon idle one of its furnaces (
amm.com, May 20
You know the price will shoot up sooner or later,
he said. This just shows you that people are coming to us
because there is a shortage of other suppliers.
Meanwhile, ferrosilicon prices ticked up to a range of 92 to 94
cents per pound from 91 to 93 cents previously.
The second trader expects the outcome of a Nucor tender for
ferrosilicon to be known within the next week. Im
hearing that they are holding lower offers than the current
market, a third trader said.
Nucor could not be reached for comment.