SiMn Enterprises Boosted by Rising Futures Prices

Published: Feb 23, 2023 14:30

Source: SMM

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Prices of #6517 silicon-manganese were 7,200-7,250 yuan/mt in Inner Mongolia in cash,

SHANGHAI, Feb 23 (SMM) - Prices of #6517 silicon-manganese were 7,200-7,250 yuan/mt in Inner Mongolia in cash, flat from the previous trading day, and those in Ningxia moved between 7,100-7,200 yuan/mt, flat from the previous trading day, those in Guangxi stood at 7,400-7,450 yuan/mt and those in Guizhou were 7,350-7,400 yuan/mt. Recently, the market confidence was boosted by rising future prices. Enterprises quoted firm but the actual transactions have not yet improved. The current market transactions were average before the downstream demand is released. Some enterprises are wait-and-see. In the short term, the silicomanganese market will remain stable but market players still need to pay attention to the demand from steel mills.

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