First Round of Inquiry Price Offered by HBIS Group is 7,600 yuan/mt while SiMn Manufacturers are not Active in Quotation

SHANGHAI, Feb 9 (SMM) - Prices of #6517 silicon-manganese were 7,350-7,400 yuan/mt in north China markets in cash, flat from the previous trading day, and those in south China markets moved between 7,400-7,450 yuan/mt. According to SMM, first round of inquiry price offered by HBIS Group for silicomanganese in February was 7,600 yuan/mt, which was 100 yuan/mt lower than the settled price last month. According to silicomanganese manufacturers, the first round of inquiry price was in line with market expectations, and the bidding price offered by HBIS Group is estimated to be around 7,700 yuan/mt. At present, the overall transactions in the market are not ideal, and silicomanganese manufacturers are not active in quoting. It is expected that silicomanganese prices may stabilise in the short term.