SiMn Prices to Remain Flat with Emerging Wait-and-See Sentiment

SHANGHAI, Dec 22 (SMM) - On December 22, prices of #6517 silicon-manganese were 7,250-7,300 yuan/mt in north China in cash, flat from the previous trading day, and those in south China were also flat at 7,350-7,400 yuan/mt. SMM survey shows that the wait-and-see sentiment has emerged in the market as steel mills are about to issue their tenders soon. At present, the prices of raw materials for SiMn remain high, while the goods in the spot market are tight. Therefore, most SiMn plants are firm to their prices and do not accept low prices. However, the trades of SiMn are unlikely to be closed at high prices since steel mills are still suffering low profits. As such, SiMn prices are expected to remain flat in the short term.