Market Sentiment Pulls Back, Spot SiMn Alloy Continues to Fluctuate Downward [SMM Weekly Review]

[SMM Weekly Review: Market Sentiment Pulled Back, SiMn Alloy Spot Continued to Fluctuate Downward] As of this Friday, the SiMn alloy 65/17 (cash) in the north China market was priced at 5,850-5,950 yuan/mt, flat WoW; in the south China market, it was priced at 6,000-6,100 yuan/mt, also flat WoW. According to SMM, manganese ore market transactions were moderate during the week. Although miners held firm on their quotes, alloy plants were cautious in purchasing, and the manganese ore spot market remained in consolidation. Supply side, major SiMn alloy producers mainly fulfilled long-term contracts during the week, with weak willingness to sell spot orders. Small SiMn alloy plants and traders sold limited quantities at low prices. In north China, new SiMn alloy production capacity was added, and the production of SiMn alloy in the region is expected to increase slightly in the future. Demand side, downstream steel mills were cautious in purchasing SiMn alloy. After the holiday, steel mills showed stockpiling demand, and attention should be paid to the pace of SiMn alloy purchases by steel mills in the future.