Ryan’s Notes

August 12, 2013

NA FeSi prices move higher

In the US, ferrosilicon (75%) prices rose to 91-94c per lb, ex warehouse, but news out of Europe was quiet given August holidays. One seller reported a 240 ton sale to a domestic buyer but admitted that he was not expecting to win the bid given the summer's lull in activity. "I booked a customer for three truckloads, and then they came back for an additional nine," stated the seller. 'The market has been quiet, but I think some people want to take some material as the whole antidumping case plays out in Washington."

The ITC held its hearing on August 9 in regard to alleged Russian and Venezuelan ferrosilicon dumping. The two US producers, CC Metals and Alloys and Globe Specialty Metals, reported that the dumping margins were 21.85% to 60.77% for Russian material and 20.07% to 60.11% for Venezuelan ferrosilicon.

The investigation covers ferrosilicon calcium containing, by weight, 4% or more Fe, more than 55% but not more than 80% Si, and more than 3% but not more than 10% Ca. However, the petition does not cover magnesium ferrosilicon which contains, by weight, 4% or more Fe, 55% or less Si, and 3% or more magnesium. The US producers defined ferrosilicon as having 4% or more Fe, more than 8% but not more than 96% Si, 3% or less P, 30% or less manganese, less than 3% magnesium, and 10% or less any other element (Ryan's Notes, July 29, p. 1). 

The ITC is expected to have determined if there is a 'reasonable' indication that domestic producers and the industry are materially injured, or threatened with injury, by Sept. 10, but a 45 day deadline extension is permissible if necessary.