NEW YORK Ferrosilicon market participants are awaiting firm direction for spot pricing as transacted prices continue to diverge.
AMMs 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 said.
"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.