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Congestion on the Mississippi and Illinois rivers, along with severe Midwest cold and ice, is slowing movements of ferroalloys. High water on the lower Mississippi has limited barge convoys to five to 10 barges instead of the usual 12, and some stretches are restricted to daylight navigation.
Watco also planned to close its Chicago rail loading facility briefly because of record cold forecasts.
Smaller convoys and facility closures reduce barge capacity and push up freight costs on the upper river system, which can widen basis and raise delivered prices for grain and feed moving by barge. Prices of the affected metals have not moved so far.
vanadiumprice.comJan 30, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
