As of Wednesday, the price of SiMn 6517 (cash) in the north China market was 5,600-5,700 yuan/mt, down 25 yuan WoW from the average price level last Wednesday; in the south China market, the price of SiMn 6517 (cash) was 5,645-5,705 yuan/mt, down 25 yuan WoW from the average price level last Wednesday. Recently, the silicon manganese market has been in the doldrums, with a strong wait-and-see sentiment prevailing in the market.

[SMM Chromium Daily Review: Chromium Market Continued to Weaken, Supply-Demand Benefits Gradually Faded] October 29, 2025: The ex-factory price of high-carbon ferrochrome in Inner Mongolia today was 8,250-8,400 yuan/mt (50% metal content), flat MoM from the previous trading day...

October 29 — The SM2601 contract opened at 5,808 yuan/mt and closed at 5,852 yuan/mt, up 1.00%, with the highest price at 5,860 yuan/mt and the lowest at 5,790 yuan/mt. Trading volume was 205,800 lots, and open interest stood at 341,929 lots. Recently, the market has lacked clear positive news, and futures have been fluctuating. Cost side, the second round of coke price increases has been implemented recently, with the coke market holding up well; the manganese ore market has remained relatively stable. Supply side, alloy plants have seen relatively small fluctuations in production, with low production enthusiasm and limited willingness to offer prices. Demand side, most steel mill tenders were priced around 5,800–5,850 yuan/mt, and SiMn prices have temporarily stabilized amid negotiations between buyers and sellers. Overall, the SiMn market has maintained a volatile pattern recently.

[SMM Stainless Steel Daily Review: Strong SS Futures and Steel Mill Production Cuts Fail to Boost Spot Market, Weak Stainless Steel Trading Persists] SMM October 29: SS futures showed a trend of stopping falling and rebounding. Today, nonferrous and ferrous metals futures generally showed strong performance, and SS futures also stopped falling and followed the upward trend, once rising above 12,800 yuan/mt during the session. On the spot market side, despite the strong performance of SS futures, trading in the spot market remained sluggish. In addition, a major stainless steel mill announced flat prices during the day, and spot prices remained stable. Market inquiries and procurement were relatively sluggish, and actual transactions still relied on traders offering discounts and sales promotions. The most-traded SS2512 futures contract stopped falling and rose. At 10:30 a.m., SS2512 was quoted at 12,755 yuan/mt, up 10 yuan/mt from the previous trading day. In Wuxi, the spot premiums/discounts for 304/2B were in the range of 215-515 yuan/mt. In the spot market, the average price for cold-rolled 201/2B coil in Wuxi was 8,000 yuan/mt; the average price for cold-rolled mill edge 304/2B coil was 12,900 yuan/mt in Wuxi and 12,900 yuan/mt in Foshan; the price for cold-rolled 316L/2B coil in Wuxi was 25,300 yuan/mt and 25,300 yuan/mt in Foshan; the price for hot-rolled 316L/NO.1 coil was 24,800 yuan/mt in both locations; the price for cold-rolled 430/2B coil was 7,600 yuan/mt in both Wuxi and Foshan. The traditional peak consumption season for stainless steel, the September-October peak season, is nearing its end, and the year-end off-season is approaching. Although the market expects the US Fed to implement two...

[SMM Coal and Coke Daily Briefing] News side, major coke producers initiated the third round of coke price increases by 50-55 yuan/mt, expected to be implemented on October 31. Supply side, coke producers' profits improved slightly, but some remain in loss, maintaining previous production restrictions, leaving limited room for output expansion. Coupled with smooth shipments, coke producers generally maintain low inventory levels. Demand side, Hebei's environmental protection policy has tightened, steel mill production restrictions are expected to intensify, daily average hot metal output declined slightly, weakening coke demand. However, steel prices rebounded, profits recovered, and some steel mills have low coke inventory, leading to increased coke procurement. Overall, market bullish sentiment strengthened, and the coke market is expected to operate generally stable with a slight rise in the short term.

[LME Continues to Boost SHFE's Rise, SHFE Zinc Maintains High Levels]: The most-traded SHFE zinc 2512 contract opened at 22,410 yuan/mt. At the beginning of the session, bulls reduced their positions, causing SHFE zinc to fluctuate downward. In the afternoon, bears reduced their positions, lifting the price center upward. It touched a high of 22,455 yuan/mt toward the end of the session and finally closed up at 22,430 yuan/mt, rising 120 yuan/mt, or 0.54%. Trading volume dropped to 114,000 lots, while open interest decreased by 1,844 lots to 119,000 lots.