Network Metals LLC

Lately we have been getting significantly more inquiries for raw materials from the steel industry, most notably requests for ferrosilicon. As the numbers continue to come out in the global markets, this appears to be the case for most of the rest of the world. We are hearing that European ferrosilicon prices have jumped dramatically, up 5% on the week - from around $1,125 to as much as $1,500 for delivered material. The price is not the only indicator of increased interest, however: we are seeing and hearing about many more settled contracts for 4Q09 delivered material, and with the traditional August slowdown still relevant for this year, we should start to see more furnaces firing up as these orders are filled.