US ferro-silicon market continues to weaken
US spot prices for ferro-silicon softened to 88-93 cents per lb on Thursday May 2, down by 2.7% from 92-94 cents per lb a week earlier, according to Fastmarkets MB’s latest assessment.
This marks a second consecutive notable decline for the US ferro-silicon price, with the market now down 8.1% from 97-100 cents per lb on April 18.
While a lack of consistent spot market activity had prevented prices from declining previously, an increase in trading over the last two weeks has provided clarity in the US ferro-silicon market.
“The market has continued to correct toward the global market. It hasn’t all happened at once, but it takes time. The US lagging behind is not a new story. It always takes time to catch up whether it is going up or down,” a US-based supplier source said.
Market participants noted the continued flow of cheaper imports...