No Favorable Factors, SiMn Prices in the Doldrums [SMM Weekly Review]

SMM Weekly Review: No Positive Factors, SiMn Prices in the Doldrums. As of this Friday, the cash price of SiMn alloy 65/17 in the north China market was 5,650-5,750 yuan/mt, down 25 yuan/mt MoM. In the south China market, the cash price of SiMn alloy 65/17 was 5,700-5,800 yuan/mt, down 25 yuan/mt MoM. According to SMM, on the raw material side, the manganese ore market was sluggish, and ore prices were under pressure. On the supply side, SiMn producers were less willing to actively offer prices, mostly delivering long-term contract orders, while spot orders were sluggish. Affected by losses, SiMn producers were less willing to reduce or halt production. On the demand side, downstream buyers showed weak demand for SiMn, still waiting for the release of end-user ferrous metals series demand.