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US low-carbon ferromanganese deal upsets mart

September 17, 2011 - 02:45 GMT Location: New York

KEYWORDS: low-carbon ferromanganese , medium-carbon ferromanganese

Participants in the low- and medium-carbon ferromanganese market are concerned that a recent deal between a large trader and a Southern steel mill for low-carbon material at a below-market price will significantly lower contract tags.

The forward sale of a significant quantity of material reportedly was made at $1.10 per pound, well below market prices of between $1.16 and $1.19 per pound.

With contract prices usually clocking in at about 3 cents below published spot prices, such a low-price sale could cause contract prices to plummet, market sources said. Contract prices are worked off...

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

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