Actual Transactions Were Average, Spot Prices Slightly Declined [SMM SiMn Alloy Daily Review]

Today, in the northern market, SiMn alloy 65/17 was priced at 6,000-6,100 yuan/mt (cash), flat WoW; in the southern market, SiMn alloy 65/17 was priced at 6,100-6,200 yuan/mt (cash), flat WoW. According to SMM, on the raw material side, due to the slow drop of manganese ore inventories at northern and southern ports, the total inventory of manganese ore remains high. Coupled with the fact that downstream alloy plants are bargaining down purchasing prices for manganese ore, the spot prices of manganese ore are currently stable. Supply side, due to the consolidation of manganese ore spot prices, the cost support for SiMn alloy is weak, making it difficult for SiMn alloy spot prices to rise. Demand side, the overall demand from downstream steel mills is weak, and their enthusiasm for purchasing SiMn alloy is low, with many waiting for the beginning of tenders. The actual transaction situation is average. Overall, with weak downstream demand support, the spot prices of SiMn alloy have slightly declined.