US FeSi active among Bulk Markets

  • Tuesday, October 22, 2013
  • Source:

  • Keywords:FeSi,Ferrosilicon,US
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The US ferrosilicon market appeared to be the only active bulk ferroalloy over the past week, with a few deals being struck among end-users and pushing the index higher, now over $1, ex warehouse. The range for ferrosilicon 75% standard grade moved higher to 100-104 cents per lb, ex warehouse Pittsburgh and Chicago. One buyer recorded several truckloads of material at 103 cents per lb, ex warehouse, while a few smaller sales were also reported. Any news in regard to the current antidumping case is not imminent, and while the outlook is not clear, the current litigation has certainly had an effect on prices. The market is still quite competitive, however, and additional Chinese material is likely to fill any drop in Russian and Venezuelan imports. Users reported, however, that many Chinese smelters supply material typically higher in calcium. Mills willing or able to utilize the imports could expect discounts from the index. In Europe, the ferrosilicon market is still markedly competitive. Movement of material is relatively healthy, but spot demand is almost nonexistent. European buyers do not appear to be stepping out of the safety net of contracts, and there is little expectation that demand will grow beyond forecasted volumes. There are still many differences from region to region, but overall EU conditions have not improved drastically.
 

The US manganese alloy spot markets were still stubbornly sluggish. There were very few transactions over the past week, and almost no activity for high-carbon ferromanganese. Producers noted that demand is still present and apparent, but movement outside of contract is severely limited. Despite the recent rally in silicomanganese prices over the past two weeks, figures were flat week-on-week among end- users.

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