The US high-carbon ferro-manganese market weakened on Thursday March 29, as latent spot market demand and ample supplies wore on pricing.
American Metal Market assessed spot prices for high-carbon ferro-manganese in-warehouse Pittsburg at $1,500-1,600 per long ton on Thursday, down 3.1% from $1,550-1,650 per long ton previously. The market has been bogged down by lackluster spot activity in recent weeks, with prices now starting to give up ground. "Aside from a few small foundry and inter-trade inquiries, the spot market is very quiet at this point," a supplier source told American Metal Market. Market participants largely agreed that stocks are plentiful at this time, and material availability is not a concern. "There is no shortage of material available right now, and we are seeing traders getting a bit more aggressive on offering prices,"...