Silico-Manganese Spot Market was Slack Because of the Plants’ Unwillingness to Lower the Prices

Published: May 19, 2022 11:59

Source: SMM

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On May 19, in the north China market, #6517 silico-manganese was quoted at 8,200-8,350 yuan/mt in cash, down by 25 yuan/mt from the previous trading day.

SHANGHAI, May 19 (SMM) - On May 19, in the north China market, #6517 silico-manganese was quoted at 8,200-8,350 yuan/mt in cash, down by 25 yuan/mt from the previous trading day. In the south China market, prices of #6517 silico-manganese stood at 8,250-8,400 yuan/mt in cash, down by 100 yuan/mt from the previous trading day. Traded price of spot dropped along with the falling futures prices. However, the plants were unwilling to lower the prices, and they mainly held the quotes at around 8,300 yuan/mt. Most of the low-priced sources in the market are owned by traders who trade futures and spots.

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