NEW YORK Ferrosilicon spot prices have ticked up again after stalling through much of September, although large-volume purchases at higher numbers remain elusive.
Ferrosilicon moved up to a range of 95 to 97 cents per pound from 94 to 96 cents previously, with some traders reporting low-volume transactions at between 98 cents and $1 per pound.
Some traders told AMM they had offered higher numbers for a 200-ton request for material, but without success.
"We havent quite reached 98 cents for big tonnages, I guess," one trader said. "Theres obviously still a lot of Russian and Venezuelan stuff theyre trying to wean out, and some guys are still worried about the anti-dumping case."
"We quoted at 97 cents per pound and lost it. Some people say theyve got 98 to 99 cents per pound, but I havent seen it," a second trader said.
Ferrosilicon prices moved up rapidly in August following the start of an anti-dumping investigation by the U.S. Commerce Department into imports from Russia and Venezuela (amm.com, Aug. 9).
The material, which had been trading in a range of 88 to 90 cents per pound prior to Commerces decision, shot up to a range of 94 to 96 cents per pound by the end of August (amm.com, Aug. 30). However, prices did not move any higher in September as buyers attempted to avoid purchasing at what was perceived as the peak of the market (amm.com, Sept. 13).