SMM

[SMM Daily Review of SiMn: Steel Tenders Enter the Market One After Another, Spot Prices Mostly in a Wait-and-See Mood] In the northern market, the price of SiMn alloy 65/17 (cash) is 5,450-5,550 yuan/mt, unchanged WoW from last Wednesday; in the southern market, the price of SiMn alloy 65/17 (cash) is 5,450-5,650 yuan/mt, unchanged WoW from last Wednesday. According to SMM, on the raw material side, miners' offers have fluctuated relatively small, with individual manganese ore varieties traded based on actual orders, leading to a slight decrease in spot prices. On the supply side, SiMn producers in south China have shown increased willingness to resume production due to the electricity cost advantages during the rainy season. On the demand side, downstream steel mills are mostly cautious and adopting a wait-and-see attitude. Steel tenders are being launched one after another, with many waiting for mainstream steel tenders to enter the market.