As of last Friday, prices of 6517 SiMn alloy in North China were 7,900-8,100 yuan/mt (by cash), down 100 yuan/mt from a week ago; in South China, prices were 8,000-8,200 yuan/mt (by cash), also down 100 yuan/mt from a week ago. According to SMM, SiMn alloy prices slightly declined last week. The bid prices of mainstream stainless steel mills were 8,420 yuan/mt, and the market showed a strong willingness to hold prices firm. However, due to the significant decline in SiMn alloy futures prices, spot prices dipped. Currently, offers for SiMn alloy have been adjusted downward, but some suppliers are unwilling to sell at low prices due to cost support. SiMn alloy demand from downstream steel mills remained weak, with a low willingness to purchase, resulting in sluggish transactions. On the cost side, high-grade manganese oxide ore prices remained at high levels, providing strong cost support. It is expected that SiMn alloy suppliers will hold prices firm supported by costs and bid prices.