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[Ferro-Alloys.com] In early July, the increase in US imports of ferrosilicon from Brazil triggered the largest price drop in the United States since 2008, completely reversing the upward trend of prices a few months ago.
From the last week of April to the first week of July, U.S. ferrosilicon prices fell 23%, to the biggest drop since 2008.
In the first half of this year, mainly due to the impact of covid-19, the demand weakened, but it is worth noting that imports of US from Brazil have risen following the low levels at the end of 2019.
In May this year, the United States imported 4406 tons of ferrosilicon from Brazil, the highest level in four years.
Market participants had expected Brazil's normally low-cost ferrosilicon supply to tighten in early 2020, leading to a rise in spot market prices.
These expectations were largely met, with prices rising steadily in the first quarter to a high of 96 cents / pound by the end of April, partly due to tight supply at the end of 2019.
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