Silicomanganese prices stable in US market
2013-12-05 07:25:05 [Print]
NEW YORK (Asian Metal) 5 Dec 13 - Sources illustrated that the mainstream price of silicomanganese has remained stable within the US market. Figures for the material could be found between USD0.52-0.55/lb d.d.p. Despite the lack of spot activity, the gradually tightened supply of the material within the US has been able to hold prices steady. Sources suspected that the mainstream price of the material would remain at these levels over the next few weeks, until after business had been settled for 2014.
A large trader of silicomanganese 65/17 conveyed an unwavering mainstream price of the material within the US market. The source quoted a price level for the material at USD0.52-0.54/lb d.d.p., unchanged over the past two weeks. He indicated that he had not been able to move any material in the spot market this week. The trader insisted that the market’s focus lied on resolving business for next year, and expected that the spot market remain quiet until that had been taken care of.
“I have not seen any spot inquiries on this material, and business is still unresolved for next year. Without any significant transactions, it is hard to say for sure where the actual value of the material lies. However, I am offering at these levels for all of next year’s inquiries. The rest of the RFQ’s for me are due this week, and I do not plan on changing my offering price. The business for next year should start being booked over the next two weeks, and we will see what happens from there,” explained the source. He expressed some optimism about the prices increasing after that time, but he anticipated that the mainstream price level of the material would remain steady in the interim.
Another trader of silicomanganese 65/17 portrayed a stable mainstream price of the material within the US market. The source quoted a price level for the material at USD0.53-0.55/lb d.d.p., unchanged over the past week. He had not seen any spot business in the last week, revealed that he had some offers out for 2014 RFQ’s, and expected this business to be settled over the next few weeks. The trader believed that the gradually tightening supply of the material has continued to provide support for the price level, despite the slow spot market at this time.
“I have not heard anything back for next year yet, but I expect that to happen over the next couple of weeks. I have some offers out in these ranges, and some even a little higher. We won’t know for sure, until the 2014 business starts to get booked. In the meantime, it’s strictly guesswork. The whole market is waiting on these orders to start falling into place,” stated the source.
A large trader of silicomanganese 65/17 conveyed an unwavering mainstream price of the material within the US market. The source quoted a price level for the material at USD0.52-0.54/lb d.d.p., unchanged over the past two weeks. He indicated that he had not been able to move any material in the spot market this week. The trader insisted that the market’s focus lied on resolving business for next year, and expected that the spot market remain quiet until that had been taken care of.
“I have not seen any spot inquiries on this material, and business is still unresolved for next year. Without any significant transactions, it is hard to say for sure where the actual value of the material lies. However, I am offering at these levels for all of next year’s inquiries. The rest of the RFQ’s for me are due this week, and I do not plan on changing my offering price. The business for next year should start being booked over the next two weeks, and we will see what happens from there,” explained the source. He expressed some optimism about the prices increasing after that time, but he anticipated that the mainstream price level of the material would remain steady in the interim.
Another trader of silicomanganese 65/17 portrayed a stable mainstream price of the material within the US market. The source quoted a price level for the material at USD0.53-0.55/lb d.d.p., unchanged over the past week. He had not seen any spot business in the last week, revealed that he had some offers out for 2014 RFQ’s, and expected this business to be settled over the next few weeks. The trader believed that the gradually tightening supply of the material has continued to provide support for the price level, despite the slow spot market at this time.
“I have not heard anything back for next year yet, but I expect that to happen over the next couple of weeks. I have some offers out in these ranges, and some even a little higher. We won’t know for sure, until the 2014 business starts to get booked. In the meantime, it’s strictly guesswork. The whole market is waiting on these orders to start falling into place,” stated the source.
Silico-manganese 65/17 In warehouse Pittsburgh
Unit:USD/lb
China silicomanganese producers' output statistics by province by month
Unit: mt
