Cost Support Weakens, SiMn Alloy Market Fluctuates Downward [SMM Weekly Review]

[SMM Weekly Review: Weakened Cost Support, SiMn Alloy Market Fluctuated Downward] As of this Friday, the SiMn alloy 65/17 (cash) in the north China market was priced at 6,200-6,500 yuan/mt, while in the south China market, it was 6,300-6,600 yuan/mt. According to SMM, affected by the weak spot price of manganese ore during the week, the cost support for SiMn alloy weakened. Coupled with the continuous downward fluctuation in the futures market, market pessimism persisted, and spot prices dropped slightly. Demand side, the resumption pace of downstream steel mills remained slow, leading to weak enthusiasm for SiMn alloy procurement. During the week, mainstream steel tenders entered the market, with most market participants adopting a wait-and-see attitude.