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 (
amm.com, 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 (
amm.com, 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