Minimill silicomanganese sale brings price down again, to 33 cents

摘要

A minimill in the western US booked 3,000st of silicomanganese last week near 33 cents /lb, bringing the price of the commodity down again after suppliers and consumers had thought a bottom had been reached at 36-37 cents last month following a 22-barge tender. Several suppliers said the 33 cents sale was the result of a supplier that had overbooked material produced outside the US needing to "unload" tonnage. "I'm afraid the price does keep falling," lamented a source close to a large foreign silicomanganese producer, acknowledging a sale had been made near 33 cents A different minimill buyer, who took a hit last year on silicomanganese as prices shot up to historic highs near 80 dollars/lb, had also heard of the 33 cents sale. "I had heartburn last year on silicomanganese when two or three suppliers [couldn't deliver] on contracts," he said. "I ended up paying near 50 cents last year and I got a taste of that 80 cents stuff, too." He said he was covered for now and in no rush to book deliveries for his second-half 2005 deliveries. "I'll let the market do what it does," he said, suggesting prices could fail further before rising.