On March 27, SteelOrbis reported US domestic ferrosilicon prices at $1,720-1,765/mt in-warehouse Pittsburgh.
According to sources, the last several weeks have seen an increased level of trading of the commodity due to the planning of second quarter deliveries, although that did not materialize into price increases.
Despite an upswing in pricing in China and the EU that was expected to push US market prices upward, prices in the US domestic market instead widened down on the bottom of the range and are now at $1,697-$1,763/mt in-warehouse Pittsburgh. A source noted that the decrease of $23/mt is a result of a cautious stance by traders trying to limit exposure to market uncertainty by limiting stock buildups.
A trader reported to SteelOrbis that steady demand from mills is being experienced in the market. The strong domestic demand and tight supply is expected to, at the minimum, maintain the present pricing range and possibly move prices up by late April.