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(AMM) Ferroalloy prices rise as Chinese interest returns

July 30, 2010 - 19:32 GMT Location: New York

KEYWORDS: ferroalloys , China , ferrosilicon , ferrochrome , molybdenum

The Chinese buyers have returned for small quantities of ferroalloys after an absence of two months, lending support to ferrosilicon, ferrochrome and molybdenum prices, traders said.

"What we're seeing is some bottoming out in China," a U.S.-based ferroalloys trader said. "They had gone cold turkey. For the past six or seven weeks they didn't buy a damn thing and prices tanked for a lot of commodities. But finally they are starting to do some nibbling, and that's a good sign that things might be turning around."

Spot ferrosilicon in the U.S. is now trading at 90 to 94 cents per pound, up from 89...

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

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