No Positive Support in the Market, SiMn Alloy Market Continues to Fluctuate Downward [SMM Weekly Review]

Published: Dec 20, 2024 18:01

Source: SMM

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As of this Friday, the SiMn alloy 65/17 in the north China market was priced at 5,850-5,950 yuan/mt (by cash), down 150 yuan/mt WoW from last Friday.

As of this Friday, the SiMn alloy 65/17 in the north China market was priced at 5,850-5,950 yuan/mt (by cash), down 150 yuan/mt WoW from last Friday; in the south China market, it was priced at 6,000-6,100 yuan/mt (by cash), down 100 yuan/mt WoW from last Friday. According to SMM, inquiries in the manganese ore market were active during the week, but actual transactions were moderate. Alloy plants mostly engaged in bargain down purchasing prices, coupled with persistently high manganese ore inventory at northern and southern ports, leading to weak spot prices for manganese ore. Futures market continued to fluctuate downward, and SiMn alloy producers showed weak willingness to offer prices, with slight declines in quotations from SiMn alloy suppliers. Downstream steel mills remained cautious in purchasing SiMn alloy, with bidding prices set by mainstream steel mills, reflecting mixed market sentiment. Other steel bidding activities were gradually unfolding, with most participants adopting a wait-and-see attitude. Overall, the SiMn alloy market lacked positive support, and the spot market continued to fluctuate downward.

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