With Cost Support, SiMn Alloy Prices Surged in May [SMM Analysis]

Published: Jun 19, 2024 14:59

Source: SMM

Save

In May, the average price of 6517 SiMn alloy in North China was 7,920 yuan/mt (by cash), up 31% MoM; in South China, the average price was 8,008 yuan/mt (by cash), up 29.2% MoM.

On the supply side, due to high-priced manganese oxide ore, cost support was strong, leading the spot price of SiMn alloy to show an upward trend in May. Therefore, SiMn alloy producers with manganese ore inventory had a strong willingness to increase production due to the expanding profits. As a result, the total output of SiMn alloy nationwide increased in May. Overall, most SiMn alloy producers were willing to resume production with previously stocked low-price manganese ore, while a few chose to purchase high-price high-grade manganese ore for resumption of production.

On the demand side, due to real estate purchase restriction relaxation and the trade-in policy, steel mills increased output in May, improving the demand for SiMn alloy.

In terms of raw materials, due to the continuous rise in the prices of manganese oxide ore and manganese-rich slag, the production costs of SiMn alloy smelters in both northern and southern China continued to rise in May, providing stronger cost support.

Market forecast Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Jun 25, 2026 18:54

European Scrap Tungsten Prices Rise, Indian Prices Fall Amid Varied Market Trends

[SMM Scrap Tungsten Flash] SMM, June 25 – This week, the ex-China scrap tungsten market showed divergent trends. European scrap tungsten alloy blade prices were raised to €90-95/kg, up 5.71% WoW. According to traders, the scrap recycling systems of European tool enterprises continued to expand, and scrap demand and trading remained active. Indian scrap tungsten drill bit prices were lowered to $120-140/kg, down 3.7% WoW. Local scrap market demand activity was subdued. On the one hand, this was influenced by the slight quiet decline in Chinese prices; on the other hand, some downstream sodium tungstate enterprises in the scrap sector indicated that end-users in Europe and the US, having established their own recycling systems, had seen weaker demand for raw materials such as sodium tungstate.

Jun 25, 2026 18:54

Jun 25, 2026 18:24

[SMM Analysis] May Magnesium Exports Down 4% MoM, Q2 Market Under Pressure Amid Geopolitical Risks

In May, China's magnesium product exports fell 4% MoM to 37.6kt. Magnesium ingot exports rose 13.7% MoM on auto and aluminum demand, while magnesium powder and alloy dropped 31.3% and 22.5% due to weak overseas demand. Japan's Jan-May imports surged 76.6% YoY, likely front-loaded, with downside risks in H2. Full-year exports are still expected to see modest growth despite headwinds from freight costs and maintenance shutdowns.

Jun 25, 2026 18:24

Jun 25, 2026 18:13

[SMM Analysis] Brief Analysis of May Tungsten Import and Export Market

SMM News Release, June 22 According to customs data, China’s total exports of tungsten smelting products and tungsten materials reached approximately 1,063.6 tons in May 2026, down 11.9% month-on-month and 17.9% year-on-year.

Jun 25, 2026 18:13