Downstream Procurement Enthusiasm Fluctuates Downward, Spot Prices Fluctuate Downward [SMM Weekly Review]

[SMM Weekly Review: Weak Procurement Enthusiasm From Downstream, Spot Prices Fluctuate Downward] As of this Friday, SiMn alloy 65/17 (cash) in the north China market was priced at 6,050-6,200 yuan/mt, down 50 yuan/mt MoM; in the south China market, it was priced at 6,050-6,300 yuan/mt, also down 50 yuan/mt MoM. According to SMM, on the raw material side, alloy mills showed weak demand for manganese ore during the week. Although miners stood firm on quotes, weak downstream demand for manganese ore limited price increases, and the spot market fluctuated downward. On the supply side, SiMn alloy production remained relatively stable. Despite the weak performance of manganese ore, spot prices stayed at high levels, providing some cost support for SiMn alloy production. As a result, SiMn alloy mills showed limited willingness to sell at low prices. On the demand side, downstream steel mills exhibited weak enthusiasm for SiMn alloy procurement. With major steel tenders entering the market, most participants adopted a wait-and-see attitude.