Downstream Transactions Remain Sluggish, Spot Prices Decline Slightly [SMM Weekly Review]

[SMM Weekly Review: Downstream Transactions Remain Sluggish, Spot Prices Slightly Decline] As of this Friday, SiMn alloy 65/17 (cash) in the north China market was priced at 6,100-6,250 yuan/mt, down 100 yuan/mt WoW; in the south China market, it was priced at 6,200-6,350 yuan/mt, also down 100 yuan/mt WoW. According to SMM, on the raw material side, some miners' quotations remained relatively firm, but alloy plants showed low acceptance of high-priced manganese ore. Manganese ore prices faced resistance to upward movement, and the manganese ore market continued to fluctuate downward. Supply side, SiMn alloy production remained relatively stable, and due to production pressure, some suspended SiMn alloy plants currently have no production resumption plans. At present, SiMn alloy plants showed weak willingness to actively quote. Demand side, downstream steel mills showed low enthusiasm for SiMn alloy procurement, mostly waiting for the next round of steel tenders to begin, with all parties largely adopting a wait-and-see attitude.