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US ferroalloy prices pause amid weak demand

Keywords: Tags  ferroalloys, ferrochrome, ferrosilicon, Daniel Fitzgerald


NEW YORK — Ferroalloy spot prices were unchanged in the past week as high-volume buyers continued to sit out the market.

High-carbon ferrochrome was steady in a range of 97 cents to $1.02 per pound, while ferrosilicon also was unchanged at 94 to 96 cents per pound.

Ferrosilicon traders 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).

"It’s still deadly quiet. I offered at 97 cents per pound and was laughed at," one ferrosilicon trader said.

"There’s still no mill business," a second trader said. "I’m not surprised, because if you’re buying now, you may be buying at the peak of the market."

Meanwhile, one ferrochrome trader said he expects high-carbon material to move up again as domestic supply remains strained (amm.com, Aug. 30).

"I’m 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 it’s not going to run away just yet, anything in the 90s is now out of the question for us. I’m only able to offer to a select few consumers due to things like vessel delays, so I don’t have the buffer stock to sell into the trade. General consumption has gone up, beating our forecasts."


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