Everybody knows that OMH mines manganese and manganese ore prices are Up. How many investors know about Ferro-silicon?
The FeSi market in China is exploding prices up nearly 50% over the past few months.
I posted a graph of Chinese Ferro-silicon two days ago showing the FeSi price on the 17 August 2017 "The Metal Bulletin Chinese ferro-silicon export price, basis 75% Si, rose to $1,400-1,450 fob.
Further gains were made yesterday, now at US$1,500 -1520 fob
Has anybody have an idea how much profit OM Sarawak is making at these prices?
There is currently a 50,000 tonne / month deficit in China, its no wonder the price of Ferro-silicon is going through the roof.
The US ferrosilicon market EXPLODED. After questioning where all the US imports of ferrosilicon went earlier this year, the US now has to deal with a major shortage. Ferrosilicon fines were sold recently for just under 80¢ per lb, and Outokumpu's tender for five barges of ferrosilicon for the remainder of the year will be eye opening.
Most sellers say the price is AT LEAST 90¢ per lb. "The price replacement cost in China is 89.5¢, c.i.f. so before you make any profit you are talking about a 91-92¢ price," one importer said. Chinese domestic prices are nearing rmb7,000 and no one knows why. "Its scary out there," another seller said. "I can see a $1 price in the near future, but I can't get any material."
OMH Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
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