SHANGHAI, Feb 17 (SMM) - Prices of #6517 silicon-manganese were 7,250-7,300 yuan/mt in north China markets in cash, down 100 yuan/mt from from last week, and those in south China markets moved between 7,350-7,400 yuan/mt, down 50 yuan/mt from from last week, those in Guangxi were 7,400-7,450 yuan/mt, flat from last week. According to SMM research, the current operating rates in the northern market were relatively stable, and thus the spot supply was relatively sufficient. Due to the high cost in south China, the operating rates were relatively low. Steel mills forced the silicomanganese prices. Coupled with the oversupply and light transactions, the prices fell this week.
On the whole, downstream steel mills were cautious in purchasing goods, and the overall demand needs to be improved. However, the cost support exists, and thus the decline in prices is limited. In the short term, the SiMn prices may decline slightly.
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