Ferroalloy prices to be affected by weak finished steel market

摘要

Imported FeSi (75 Si) has been available in Turkey this month at $1,380-1,390/t CIF, down some $90/t from July. Prices for Ukrainian SiMn (70 Mn; 17 Si) have not changed from $1,180-1,200/t CIF. - It has become clear in August that steel product demand will not recover in Turkey. Investors may be scared off by the record 25 devaluation of the Turkish lira and the stronger opposition with the USA, which will result in lower construction steel end use. The figure may drop by 5-6 this year, Metal Expert estimates. Steel output will be reduced, and so will ferroalloy consumption. Yet, the margins for long product manufacture from local steel before purchasing and further re-rolling of import square billet will not change.