SiMn Alloy Temporarily Stable, Market Participants Mostly Adopting a Wait-and-See Attitude [SMM SiMn Daily Review]

Published: Oct 30, 2024 17:12 (GMT+8)

Source: SMM

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In the northern market, SiMn alloy 65/17 (cash) was priced at 5,850-6,050 yuan/mt, up 50 yuan/mt compared to last Wednesday.

In the northern market, SiMn alloy 65/17 (cash) was priced at 5,850-6,050 yuan/mt, up 50 yuan/mt compared to last Wednesday; in the southern market, SiMn alloy 65/17 (cash) was priced at 5,950-6,150 yuan/mt, up 50 yuan/mt compared to last Wednesday. According to SMM, in terms of raw materials, manganese ore and coke prices remained weak. Despite the fluctuations in the SiMn alloy futures market, recent quotes from miners have remained firm, but the actual transaction prices of manganese ore have not changed significantly. The inventory of manganese ore at ports is being consumed slowly and remains at a high level, so it is expected that manganese ore prices will continue to be weak in the future. On the supply side, the production in the main producing areas of SiMn alloy has not fluctuated significantly, and the supply of SiMn alloy remains sufficient. On the demand side, the downstream procurement demand for SiMn alloy is weak, and due to the fluctuations in spot prices, buyers are cautious about purchasing SiMn alloy.

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