NEW YORK Ferroalloy spot trading has largely ground to a halt, with market participants now waiting for fourth-quarter orders to begin flowing in after the Labor Day holiday at the beginning of September.
AMMs pricing assessments are unchanged, with high-carbon ferrochrome holding steady at 94 cents to $1 per pound and ferrosilicon continuing to trade at 88 to 90 cents per pound.
"There are no big changes. Whatever sales were making, were doing it at very small quantities," one trader said.
"Shipments are still good on contracts, but the spot thing is as quiet as a mute mouse," a second trader said.
Several traders cited the Labor Day holiday Sept. 2 as a potential turning point in demand, with some consumers expected to re-enter the market looking for fourth-quarter deliveries.
The ferrosilicon market also is awaiting the outcome of an anti-dumping petition filed against imports from Russia and Venezuela (amm.com, Aug. 9).
Molybdenum prices, which recently steadied after dropping throughout the second half of July (amm.com, Aug. 2), also are expected to be largely stable this month.
"Trade speculation is that we could see movements back up soon, but our perspective is theres no dynamic to suggest prices will rise or fall," one producer source said.