SiMn Alloy Plants Show Weak Willingness to Cut Production, Spot Prices Remain Stable [SMM Weekly Review]

Published: Nov 1, 2024 17:51

Source: SMM

Save

As of this Friday, spot prices for SiMn alloy 65/17 (cash) in the northern market were 5,900-6,100 yuan/mt, down 125 yuan/mt WoW.

As of this Friday, spot prices for SiMn alloy 65/17 (cash) in the northern market were 5,900-6,100 yuan/mt, down 125 yuan/mt WoW; in the southern market, prices were 6,000-6,100 yuan/mt, down 100 yuan/mt WoW. According to SMM, on the raw material side, due to the good performance of the alloy market, manganese ore prices stabilized this week after a decline, with miners showing a strong sentiment to stand firm on quotes and a weak willingness to sell at low prices. Supply side, new capacity was added in Inner Mongolia this week, and SiMn alloy plants in Guangxi resumed production. Overall, SiMn alloy plants showed a weak willingness to cut production. Demand side, at the beginning of the month, downstream steel mills mostly adopted a wait-and-see attitude, being cautious about SiMn alloy procurement and waiting for mainstream tenders to provide price outlook guidance.

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

6 hours ago

East China Smelter to Launch Crude Cadmium Tender Amid Firming Prices, Intense Competition Expected

SMM News, September 16: According to market sources tracked by SMM, a major smelter in East China plans to launch a public tender sale of several tonnes of crude cadmium tomorrow. Market participants stated that given the current firming trend in cadmium prices, competition for this crude cadmium tender is expected to be fairly intense.

6 hours ago

Hunan Smelter Completes Refined Cadmium Tender Sale at RMB 27,800/tonne Amid Firming Prices

SMM News, September 16: According to market sources tracked by SMM, a major smelter in Hunan recently completed a public tender sale of several tonnes of refined cadmium, with the transaction successfully closed. Market hearsay puts the final deal price of refined cadmium at approximately RMB 27,800 per tonne. Market participants commented that cadmium prices are showing a firming trend at present, and buying interest from end users is gradually picking up. The successful conclusion of this tender is, to a certain extent, an indication of sound market demand.

6 hours ago

Hunan Major Plant's Refined Cadmium Tender Concluded Successfully [SMM Report]

6 hours ago