Mainstream Steel Bidding Enters the Market, with Most Holding a Wait-and-See Attitude [SMM Weekly Review]

[SMM Weekly Review: Mainstream Steel Bidding Enters the Market, Most Participants Hold a Wait-and-See Attitude] As of this Friday, the spot price of SiMn alloy 65/17 (cash) in north China was 5,750-5,950 yuan/mt, flat WoW; in south China, it was 5,900-6,100 yuan/mt, also flat WoW. According to SMM, during the week, Gabon manganese ore saw concentrated supply, with miners standing firm on quotes, leading to a slight rise in spot prices. Supply side, most SiMn alloy plants held back from selling, showing weak willingness to sell at low prices, and mainly fulfilled long-term contracts. Demand side, downstream steel mills were cautious in purchasing SiMn alloy, with mainstream steel bidding entering the market, while most participants held a wait-and-see attitude.