During the week, news from the mine sector caused disturbances, and spot prices rose slightly [SMM SiMn Weekly Review]
[SMM SiMn Weekly Review: Mine-related News Disturbs Market, Spot Prices Rise Slightly During the Week] As of Friday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,450-5,550 yuan/mt, up 25 yuan/mt WoW from last Friday; in the southern market, it was 5,500-5,600 yuan/mt, up 25 yuan/mt WoW from last Friday. According to SMM, on the raw material side, affected by the news of reduced shipments of South African manganese ore during the week, miners showed strong reluctance to budge on prices, and the prices of some manganese ore varieties rose slightly. On the supply side, due to the enhanced cost support, the spot price of SiMn rose slightly, and SiMn mills had a weak willingness to sell at low prices. On the demand side, downstream steel mills were cautious in purchasing SiMn and maintained a wait-and-see sentiment towards the market.
As of this Friday, the price of SiMn alloy 65/17 (cash) in the northern market was 5,450-5,550 yuan/mt, up 25 yuan/mt WoW from last Friday; in the southern market, the price of SiMn alloy 65/17 (cash) was 5,500-5,600 yuan/mt, up 25 yuan/mt WoW from last Friday. According to SMM, on the raw material side, affected by the news of reduced shipments of South African manganese ore during the week, miners showed strong reluctance to budge on prices, and the prices of some manganese ore varieties rose slightly. On the supply side, influenced by the enhanced cost support, the spot price of SiMn rose slightly, and SiMn producers had a weak willingness to sell at low prices. On the demand side, downstream steel mills were cautious in purchasing SiMn and held a wait-and-see sentiment towards the market.
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