There was downward pressure for European bulk ferroalloys prices on Thursday as the market digested news of automotive closures and steel mill production cuts. Sources said with mills shutting down for sanitization or to scale back output there was no clarity on the production schedule and whether there would be difficulty in sourcing transport. “I’m keeping a low profile and not taking orders,” said a trader. Others said that any inquiry was attracting a flurry of offers and it was a fight to win tenders. “I’m now asking for bids because I want to sell my position,” a second European trader said.
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