Cost Support Strengthened, Spot Prices Fluctuate Upward [SMM SiMn Alloy Daily Review]

[SMM SiMn Alloy Daily Review: Cost Support Strengthened, Spot Prices Fluctuate Upward] In the northern market, SiMn alloy 65/17 (cash) was priced at 5,900-6,100 yuan/mt, up 150 yuan/mt MoM; in the southern market, SiMn alloy 65/17 (cash) was priced at 6,100-6,200 yuan/mt, also up 150 yuan/mt MoM. According to SMM, on the raw material side, manganese ore ownership is concentrated, with miners showing strong sentiment to stand firm on quotes and weak willingness to sell at low prices. Supply side, due to rising raw material prices, cost support has strengthened, and SiMn alloy producers slightly raised their quotes, with no low-price offers. Demand side, downstream steel mills slowed their stockpiling pace ahead of the Chinese New Year, leading to a relatively quiet market, with most awaiting mainstream steel tender pricing.