AMM

American Metal Market

By Daniel Fitzgerald

September 3, 2013

Silicomanganese market eyes Nucor tender

NEW YORK - Silicomanganese market participants are eyeing a Nucor Corp. tender that represents one of the first major inquiries since producer Felman Production LLC suspended operations.

Nucor reportedly has released a request for quota-lions for up to 3,000 tons of silicomanganese for fourth quarter delivery to three of its mills. The company could not be reached for comment.

Felman is laying off another 100 workers at its suspended silicomanganese operations in New Haven, W.Va., due to ongoing low market pricing (amm.com, Aug. 22). Silicomanganese is   currently   trading   in   range of 49 to 51 cents per pound.

A source at Felman confirmed Aug. 29 that the company is still not participating in die spot market. 

However, one trader claimed that there should be enough silicomanganese in the market to cover Nucor's needs, despite the absence of Felman.