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US spot ferrosilicon prices decline further

Keywords: Tags  ferrosilicon prices, ferrosilicon demand, Nucor, ferrosilicon, Daniel Fitzgerald

NEW YORK — Ferrosilicon prices fell again, with traders reportedly looking to book whatever business they can before the summer slowdown quells consumer interest.

Ferrosilicon dropped to a range of 89 to 91 cents per pound from 90 to 92 cents last week. That marks a steady decline since late March, when ferrosilicon traded in a range of 95 to 97 cents per pound (, March 22).

Market participants said that requests for material were scarce following the recent completion of Charlotte, N.C.-based Nucor Corp.’s tender, which reportedly pushed prices down (, June 14). As a result, competition for remaining tenders remains fierce.

“Right now, people think this is the last business that will be out here for a while,” one trader said. “Nucor came out for a lot of tons and people are looking to get whatever they can, because Europe is still terrible.’

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