Quiet Trading Before the Holiday, Spot Market Remains Consolidated [SMM Weekly Review]
[SMM Weekly Review: Tepid Transactions Before the Holiday, Spot Market Remains Consolidated]
As of this Friday, SiMn alloy 65/17 (cash) in the north China market was priced at 6,000-6,200 yuan/mt, flat MoM; in the south China market, it was priced at 6,200-6,300 yuan/mt, also flat MoM. According to SMM, on the raw material side, transactions in the manganese ore market had nearly stalled before the holiday, with miners maintaining firm offers. Currently, most SiMn alloy plants are fulfilling long-term contracts, and rising ore prices have strengthened cost support for SiMn alloy, leading to weaker willingness to sell spot orders at low prices. On the downstream demand side, overall purchases were sluggish, with stockpiling mostly completed earlier, and the market is largely waiting for mainstream steel tender pricing.
As of this Friday, SiMn alloy 65/17 (cash) in the north China market was priced at 6,000-6,200 yuan/mt, flat MoM; in the south China market, it was priced at 6,200-6,300 yuan/mt, also flat MoM. According to SMM, on the raw material side, transactions in the manganese ore market had almost stalled before the holiday, with miners maintaining firm offers. Currently, most SiMn alloy plants are fulfilling long-term contracts, and rising ore prices have strengthened cost support for SiMn alloy. Willingness to sell spot orders at low prices remains weak. On the downstream demand side, overall purchases were sluggish as earlier stockpiling was mostly completed, and the market is largely waiting for mainstream steel tender pricing.
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