Silicomanganese market participants are eyeing a Nucor Corp.
tender that represents one of the first major inquiries since
producer Felman Production LLC suspended operations.
Nucor reportedly has
released a request for quotations for up to 3,000 tons of
silicomanganese for fourth-quarter delivery to three of its
mills. The company could not be reached for comment.
Felman is laying off
another 100 workers at its suspended silicomanganese operations
in New Haven, W.Va., due to ongoing low market pricing (
amm.com, Aug. 22). Silicomanganese is currently
trading in a range of 49 to 51 cents per pound.
A source at Felman
confirmed Aug. 29 that the company is still not participating
in the spot market.
However, one trader claimed that there should be enough
silicomanganese in the market to cover Nucors needs,
despite the absence of Felman.