US: low spot demand weighs on prices

摘要

Weak steel demand and potential mill closures spurred suppliers to lower offers, competing for diminishing spot opportunities. Prices for 65pc grade alloy declined to $9.10-9.30/lb from $9.85-10.10/lb on 26 March. Weakening demand weighed on the market and offset ongoing supply concerns among market participants. Offers drifted lower as weak demand spurred sellers to compete for limited business. Suppliers were content to offer alloy in the $9.20/lb range, where one consumer purchased 10t of alloy on an unknown delivery basis.