NEW YORK Ferrosilicon spot prices have dropped slightly as supply anxiety continues to ease, while contract business has reportedly been finalized at the lower end of published ranges.
AMMs ferrosilicon spot prices narrowed to 94 to 98 cents per pound from 94 to 99 cents previously, with sellers no longer reporting any success selling at $1 per pound or more.
Prices have eased in recent months as supply concerns raised by an anti-dumping investigation into Russian and Venezuelan imports have abated somewhat (amm.com, Nov. 22).
The market received more breathing room this past week as the Commerce Department postponed the deadline on a preliminary decision until March 4 from Dec. 26 (amm.com, Dec. 19).
"Its definitely helpful for us; it gives us a little more time," one seller said.
Meanwhile, a second seller said he booked one major customer at an effective fixed price of 94 cents per pound, once discounts were taken into account.
Other sources said they had yet to finalize 2014 contracts, but still expected to see reduced discounts compared with 2013. "Its continuing, but a lot of them have wrapped up," a trader said.