NEW YORK 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.