Ferrosilicon market participants are awaiting firm direction
for spot pricing as transacted prices continue to diverge.
ferrosilicon spot prices are unchanged in a range of 93 to 98
cents per pound, with little consensus as to where high-tonnage
sales were being made.
"We offered at 95.5
cents per pound for one truckload and didnt get it and
then offered at 97 cents per pound for a smaller inquiry and
did get it, so its an unusual market," one trader
"Business is very
sporadic, and then the Chinese material comes in and lowballs
everything," a second trader said.
A third trader said
his company was hesitant to push prices in light of the U.S.
Commerce Departments anti-dumping investigation into
imports of ferrosilicon from Russia and Venezuela (
amm.com, Aug. 9).
"Contracts are all
done, so everyone is just waiting for the next signal in early
March, when a preliminary decision in the anti-dumping case
should be announced," he said.