How will the Chaotic Silicon-manganese Market React to the Coming Steel Bidding

SHANGHAI, May 24 (SMM) - On May 24, the silicon-manganese 6517 (cash) in the northern market was 8,150-8,350 yuan/mt and was 8,150-8,400 yuan/mt in southern market. The silicon-manganese market was stable today. The market was generally willing to hold the prices firm amid the approaching steel bidding, In addition, the market heard that the bidding price of Guangxi steel mills in June was 8,300 yuan/mt, which was lower than the previous month, hence the market expected that the steel bidding prices will be low.

On the whole, the current market outlook is slightly chaotic, market transactions are sluggish, and the actual implementation of production reduction is still unclear. Further attention should be paid to the influence of steel bidding.