Ferrosilicon traders are aiming to push spot prices closer to
$1 per pound even though trading activity appears too scant to
support the price hike.
unchanged in a range of 91 to 93 cents per pound, although
market participants told AMM there were rumors of
material selling for as high as $1 per pound.
have been aiming to capitalize on supply concerns following the
launch of a U.S. anti-dumping investigation into imports from
Russia and Venezuela (
amm.com, Aug. 16).
"With or without the
trade case, those numbers still seem high," one trader said.
"There are very few spot inquiries right now, and its
more for specialty grades of ferrosilicon."
"People are mostly
talking it up for now, but I do think it will get there
eventually," a second trader said.
One consumer source,
who said his company will probably put in a request for
ferrosilicon in the fourth quarter, agreed that the higher
prices are likely speculative. "Personally, I think its a
lot of talk at this point. I dont think demand has
actually picked up. From the steel side, I think demand will
remain in the same range that its been for most of the
year," he said.