Steel tenders are entering the market one after another, with wait-and-see sentiment prevailing in spot prices [SMM SiMn Daily Review]

Published: Jun 11, 2025 17:34

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[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.

June 11 news: In the northern market, the price of SiMn alloy 65/17 (cash) was 5,450-5,550 yuan/mt, unchanged WoW from last Wednesday; in the southern market, the price of SiMn alloy 65/17 (cash) was 5,450-5,650 yuan/mt, unchanged WoW from last Wednesday. According to SMM, on the raw material side, miners' offers showed relatively small fluctuations, with individual manganese ore varieties priced based on actual transactions, leading to a slight decrease in spot prices. On the supply side, SiMn alloy producers in south China were more inclined to resume production due to the electricity cost advantages during the rainy season. On the demand side, downstream steel mills maintained a cautious wait-and-see sentiment, with steel tenders being launched one after another, and most waiting for mainstream steel tenders to enter the market.

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