SiMn alloy plants show weak willingness to sell at low prices; the spot market remains stable [SMM SiMn Daily Review]

Published: Nov 27, 2024 14:41

Source: SMM

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Today, in the northern market, SiMn alloy 65/17 was priced at 5,950-6,150 yuan/mt (cash), up 100 yuan/mtWoW.

Today, in the northern market, SiMn alloy 65/17 was priced at 5,950-6,150 yuan/mt (cash), up 100 yuan/mtWoW; in the southern market, SiMn alloy 65/17 was priced at 6,050-6,250 yuan/mt (cash), up 100 yuan/mt WoW. According to SMM, on the raw material side, miners have a sentiment to stand firm on quotes, but the manganese ore inventory at ports in both north and south China remains at a relatively high level. Alloy plants mainly purchase at low prices, and the spot prices of manganese ore remain stable. Supply side, as the month is about to end, SiMn alloy plants are primarily fulfilling long-term contracts, with spot order transactions being average. SiMn alloy plants have a low willingness to sell at low prices, and currently, there are few low-priced sources in the market. Demand side, downstream demand for SiMn alloy is cautious, and the spot transactions of SiMn alloy are generally mediocre, with most parties adopting a wait-and-see attitude. It is still necessary to pay attention to the actual demand changes for SiMn alloy in the future.

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