May 2012 | Ferro-alloys
European trading range widens: Ferro-silicon Highlights
European price range widening amid minimal activity.
European spot ferro-silicon prices are around 1,230-1,290/tonne ($1,570-1,650/tonne) delivered in May. Second-quarter contract prices were settled last month at 1,240-1,250/tonne delivered, up from 1,125-1,140/tonne in the first quarter.There is not a great deal of ferro-silicon availability after recent longer-term settlements. This tightening in supply is supporting prices and will continue to do so for the remainder of the quarter. Spot market business is quiet and will remain subdued unless steel production rates increase in the near term. We believe this is unlikely, however, with European steel production looking as strong as...
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