Ferroalloy spot prices were unchanged in the past week as
high-volume buyers continued to sit out the market.
ferrochrome was steady in a range of 97 cents to $1.02 per
pound, while ferrosilicon also was unchanged at 94 to 96 cents
so far have been unable to push transactions closer to $1 per
pound, despite recent supply concerns following the filing of
an anti-dumping trade petition by U.S. producers against
imports from Russia and Venezuela (
amm.com, July 19).
deadly quiet. I offered at 97 cents per pound and was laughed
at," one ferrosilicon trader said.
"Theres still no
mill business," a second trader said. "Im not surprised,
because if youre buying now, you may be buying at the
peak of the market."
ferrochrome trader said he expects high-carbon material to move
up again as domestic supply remains strained (
amm.com, Aug. 30).
"Im only selling
to test the market at the moment, and think I could sell near
$1.05 per pound without an issue," he said. "I think the market
found a bottom. Though its not going to run away just
yet, anything in the 90s is now out of the question for us.
Im only able to offer to a select few consumers due to
things like vessel delays, so I dont have the buffer
stock to sell into the trade. General consumption has gone up,
beating our forecasts."