Silicomanganese prices stable in US market
2010-03-05 08:46:54 【Print】
PITTSBURGH (Asian Metal) 5 Mar 10 – Prices of silicomanganese continue relatively unchanged through the week, but the overall US market remains firm. Even there is still a general lack of material on the domestic spot market, little fluctuation is expected in the short-term, according to active traders.
The overall market continues at USD0.62-0.67/lb though few spot deals have been concluded in the past few weeks due to the general lack of material in the hand of most traders. Prices have held around this range for the past six weeks approximately.
“There is more material available now than before, but I would still say there is an overall supply constraint. I don’t see the market decreasing anytime in the near future though,” one large US trader commented.
The trader, who indicated direct from supplier prices at USD0.60-0.65/lb and inter-trade at USD0.63-0.68/lb, expected demand to keep increasing in the upcoming weeks.
“Consumption from the structural mills is up and should continue to rise through the second quarter,” the trader added. “All this equals greater demand and greater pressure on current pricing.”
Another small US-based distributor, who indicated prices around USD0.65/lb, had not booked any business in the past week. According to the trader, he has only booked one 60t sale so far in the past month, and is waiting until prices jump again before distributing some of his stock.
“We have a small position in [silicomanganese] right now,” the source said. “I think the prices are deflated and the real market is much higher than is being reported right now. It is only a matter of time before there is a big supply crunch and prices surge at which point we will think about moving some of our material.”
The overall market continues at USD0.62-0.67/lb though few spot deals have been concluded in the past few weeks due to the general lack of material in the hand of most traders. Prices have held around this range for the past six weeks approximately.
“There is more material available now than before, but I would still say there is an overall supply constraint. I don’t see the market decreasing anytime in the near future though,” one large US trader commented.
The trader, who indicated direct from supplier prices at USD0.60-0.65/lb and inter-trade at USD0.63-0.68/lb, expected demand to keep increasing in the upcoming weeks.
“Consumption from the structural mills is up and should continue to rise through the second quarter,” the trader added. “All this equals greater demand and greater pressure on current pricing.”
Another small US-based distributor, who indicated prices around USD0.65/lb, had not booked any business in the past week. According to the trader, he has only booked one 60t sale so far in the past month, and is waiting until prices jump again before distributing some of his stock.
“We have a small position in [silicomanganese] right now,” the source said. “I think the prices are deflated and the real market is much higher than is being reported right now. It is only a matter of time before there is a big supply crunch and prices surge at which point we will think about moving some of our material.”
