SiMn alloy plants showed a low willingness to sell at low prices; SiMn prices slightly increased [SMM SiMn Alloy Futures Review]

Published: Oct 8, 2024 17:30

Source: SMM

Save

The SM2501 contract opened at 6,768 yuan/mt, fluctuated downward after the opening, and finally closed at 6,348 yuan/mt, a decrease of 3.67%.

The SM2501 contract opened at 6,768 yuan/mt, fluctuated downward after the opening, and finally closed at 6,348 yuan/mt, a decrease of 3.67%. The daily high was 6,816 yuan/mt, and the low was 6,310 yuan/mt. Trading volume was 402,234 lots, and open interest was 325,012 lots. After the National Day holiday, influenced by favorable macro policies, SiMn alloy plants showed weak willingness to sell at low prices, making low-priced SiMn alloy hard to find in the market. Post-holiday market quotes were chaotic, with many SiMn alloy plants mainly observing and showing low willingness to quote actively. Due to recent significant fluctuations in SiMn alloy prices, downstream was cautious in purchasing, resulting in low actual trading volume after the holiday. Attention should be paid to the actual trading situation of SiMn alloy in the future.

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 to learn 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

20 hours ago

A mine in Henan opened bids for a 300 mt tungsten concentrate auction on February 6.

[Tungsten Concentrate Tender Information] SMM February 7: A mine in Henan conducted an online tender on February 6 to sell 300 metric tons of low-grade tungsten concentrate. Lot A had an average WO3 grade of ≥25%, while Lots B and C had an average WO3 grade of ≥22%. The tender results for each lot are as follows: Lot A: 100 metric tons, tender price of 10,155 yuan/mtu. Lot B: 100 metric tons, tender price of 10,160 yuan/mtu. Lot C: 100 metric tons, tender price of 10,155 yuan/mtu.

20 hours ago

Ganzhou Tungsten Association Significantly Raises Tungsten Price Forecast for February 2026

[Ganzhou Tungsten Industry Association's February Tungsten Price Forecast] The Ganzhou Tungsten Industry Association's forecast prices for the tungsten market in February 2026 are as follows: 55% black tungsten concentrate at 670,000 yuan per metric ton unit, up 210,000 yuan per metric ton unit MoM from the January price, an increase of 45.65%; ammonium paratungstate at 970,000 yuan/mt, up 300,000 yuan/mt MoM, an increase of 44.78%; medium-grain tungsten powder at 1,630 yuan/kg, up 480 yuan/kg MoM, an increase of 41.74%.

20 hours ago

Tungsten Market Rallies Strongly, Long-Term Contract Prices Surge & Domestic-Overseas Markets Link Up

Driven by tight spot raw material supply, a sharp hike in corporate long-term contract prices and festive effects, the tungsten market saw price rises on shrinking volumes this week with domestic and overseas markets moving up in tandem; the strong short-term trend is set to continue, and attention should be paid to the resumption of cemented carbide production, scrap tungsten supply and downstream demand release after the Spring Festival.

20 hours ago