Downstream demand is weak, and SiMn prices are in the doldrums [[SMM Weekly Review]]
[SMM Weekly Review: Weak Downstream Demand Leads to Sluggish SiMn Prices] As of Wednesday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,600-5,700 yuan/mt, down 75 yuan/mt WoW; in the southern market, it was 5,600-5,800 yuan/mt, down 75 yuan/mt WoW. According to SMM, on the raw material side, miners' offers dropped slightly, and alloy plants drove down prices when purchasing manganese ore, leading to sluggish spot prices of manganese ore. On the supply side, affected by production pressure, both northern and southern SiMn plants have expressed willingness to cut production. Currently, many SiMn plants are holding back from selling, and some holders have slightly lowered their offers. On the demand side, steel mills downstream of SiMn showed weak enthusiasm for purchasing SiMn. The market remained weak in both supply and demand, resulting in sluggish SiMn prices.
As of Wednesday, the price of SiMn alloy 65/17 (cash) in the northern market was 5,600-5,700 yuan/mt, down 75 yuan/mt WoW; in the southern market, it was 5,600-5,800 yuan/mt, down 75 yuan/mt WoW. According to SMM, on the raw material side, miners' offers dropped slightly, and alloy plants drove down prices when purchasing manganese ore, with spot manganese ore prices in the doldrums. On the supply side, affected by production pressure, both northern and southern SiMn plants had the intention to cut production. Currently, most SiMn plants held back from selling, and some holders slightly lowered their offers. On the demand side, downstream steel mills' enthusiasm for purchasing SiMn was weak, and the market remained weak in both supply and demand, with SiMn prices in the doldrums.
》Click to view SMM's spot manganese offers
