NEW YORK Ferrosilicon spot prices have continued to strengthen due to a recently launched trade case against imports from Venezuela and Russia and a dearth of material in traders hands.
AMMs price range widened to 96 cents to $1 per pound from 96 to 98 cents previously, with transactions for truckload quantities reported at both ends of the range in the past week.
"I dont think theres much around in merchant hands. China is certainly not shipping a lot of material," a trader said.
One reseller said he had not seen the higher end of the price range on recent quotes, while others maintained that prices were well above AMMs range, consistent with a wide spread of prices reported in past weeks (amm.com, Oct. 18).
Negotiations for 2014 supply contracts are starting to get under way, sources said.
"Many companies came out for 2014 a few weeks ago. These discussions and negotiations will extend into December," a second trader said, adding that one question mark about the negotiations is how willing producers affected by the anti-dumping case will be to enter long-term supply contracts for next year, when decisions in the trade case will be made.