SiMn alloy continues to operate weakly, with many producers suspending quotations [SMM SiMn Alloy Daily Review]

On August 28, in the northern market, SiMn alloy 65/17 (cash) was priced at 6,000-6,200 yuan/mt, down 100 yuan/mt WoW; in the southern market, SiMn alloy 65/17 (cash) was priced at 6,100-6,300 yuan/mt, down 100 yuan/mt WoW. According to SMM, from the supply side, manganese ore prices continued to weaken, and coke prices kept declining, leading to a decrease in SiMn alloy production costs and insufficient cost support. Many SiMn alloy producers suspended quotations and had a low willingness to sell, mainly focusing on the delivery of long-term orders. Some SiMn alloy producers started to stockpile after completing long-term orders. From the demand side, downstream steel mills showed a strong willingness to reduce production and had low enthusiasm for purchasing SiMn alloy, leading to a continuous decline in demand. Overall, the supply-demand mismatch for SiMn alloy has intensified, and future attention should be paid to changes in the supply-demand relationship in the SiMn alloy market.