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(AMM) Ferromanganese prices skyrocket on Eramet force majeure

March 12, 2010 - 21:01 GMT Location: NEW YORK

KEYWORDS: Eramet Marietta , ferromanganese , ferroalloys

After a couple of days of speculation, there is now some firm visibility on the impact that Eramet Marietta Inc.?s force majeure is having on low- and medium-carbon ferromanganese pricing.

Medium-carbon ferromanganese has skyrocketed to a wide range of $1.70 to $2 per pound from $1.35 to $1.40 before news that Marietta, Ohio-based Eramet was forced to shut down one of its three Ohio furnaces due to a malfunction.

The company is a major domestic supplier of both low- and medium-carbon ferromanganese.

"There will be some guys that will be willing to profit take at only 20-percent margins, while others are going to ask?and, quite frankly, get?$2-plus (for medium-carbon ferromanganese)," one U.S.-based ferroalloys trader said. "People are definitely transacting at about $1.80 (per pound) for medium-carbon and about...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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