Ferrosilicon traders are looking to boost prices as the market
awaits the outcome of a recently filed trade complaint, while
little impact is expected from Chinas plans to shut
ferroalloys production capacity.
at 88 to 90 cents per pound, with little new business reported.
However, traders flagged up imminent price rises as the market
awaits the outcome of an anti-dumping petition filed against
imports from Russia and Venezuela (
amm.com, July 22).
"There are fears with
the anti-dumping petition thats looming. ... Were
trying to get that number up. There is material in the country
that needs to be weaned out first, and theres no real
business to move the prices up. But when the inquiries come, we
can move numbers up," one trader said.
"Ferrosilicon is going
up in anticipation of this anti-dumping suit, though no
business is being done. Its probably 91 to 92 cents per
pound right now because of the anticipation," a second trader
market participants expressed doubt that there would be any
local impact from Chinas announcement that it will phase
out 1.93 million tonnes per year of obsolete ferroalloys
capacity this year (
amm.com, Aug. 1).
"The Chinese have been
uncompetitive for most of this year and last year, and a lot of
the domestic ferroalloy production is geared toward domestic
Chinese mills," a third trader said.
"Those stories have
come out every year and I guarantee not even one-tenth of it
even happens. They close a plant one day and another opens down
the road the next," the first trader said.