Mainstream Steel Bidding Enters the Market, with Most Holding a Wait-and-See Attitude [SMM SiMn Alloy Daily Review]

[SMM SiMn Alloy Daily Review: Mainstream Steel Tenders Enter the Market, Most Participants Hold a Wait-and-See Attitude] In north China, SiMn alloy 65/17 (cash) was priced at 6,050-6,200 yuan/mt, down 75 yuan/mt MoM; in south China, SiMn alloy 65/17 (cash) was priced at 6,150-6,300 yuan/mt, also down 75 yuan/mt MoM. According to SMM, on the raw material side, miners' quotes were somewhat chaotic, with a mix of high and low prices in the market. Some miners held firm on their quotes, but alloy plants mostly pressed for lower purchase prices, while manganese ore spot prices remained stable. Supply side, SiMn alloy plants showed weak willingness to sell, with many holding back from selling. Demand side, downstream steel mills were cautious in their purchases. Mainstream steel tenders entered the market, with the first round of inquiries at 6,300 yuan/mt. Most participants held a wait-and-see attitude, awaiting the pricing of mainstream steel tenders.