SiMn Alloy Market Sees Active Inquiries, Spot Prices Fluctuate Upward [SMM Weekly Review]

Published: Nov 22, 2024 17:08

Source: SMM

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As of this Friday, spot prices for SiMn alloy 65/17 in the north China market were 5,950-6,150 yuan/mt (cash), up 50 yuan/mt WoW.

As of this Friday, spot prices for SiMn alloy 65/17 in the north China market were 5,950-6,150 yuan/mt (cash), up 50 yuan/mt WoW; in the south China market, prices were 6,050-6,250 yuan/mt (cash), also up 50 yuan/mt WoW. According to SMM, on the raw material side, downstream demand for manganese ore was insufficient during the week, causing spot prices for manganese ore to fluctuate downward. Supply side, the operating rate of SiMn alloy plants in south China remained low, with overall willingness to resume production still weak. In contrast, SiMn alloy plants in north China maintained a high operating rate due to cost advantages. Demand side, downstream steel mills showed active inquiries for SiMn alloy, indicating a recovery in demand. Supported by mainstream steel mill bidding prices and futures market, spot prices for SiMn alloy rose slightly.

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