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

[SMM SiMn Alloy Daily Review: Weak Cost Support, Market Fluctuates Downward] In north China, SiMn alloy 65/17 (cash) was priced at 6,100-6,300 yuan/mt, down 75 yuan/mt MoM; in south China, SiMn alloy 65/17 (cash) was priced at 6,200-6,400 yuan/mt, also down 75 yuan/mt MoM. According to SMM, on the raw material side, port manganese ore destocking progressed slowly, and alloy plants showed weak enthusiasm for manganese ore procurement, with spot manganese ore prices fluctuating downward. Supply side, manganese ore prices fluctuated downward, leading to weak cost support for SiMn alloy. Currently, most SiMn alloy plants are fulfilling orders, while retail transactions remain sluggish. Demand side, downstream steel mills show weak demand for SiMn alloy, with cautious procurement and a wait-and-see attitude prevailing among all parties.