Ferrous Metals Series Weakness Affects SiMn Alloy Market to Fluctuate Downward [SMM Weekly Review]

SMM Weekly Review: Ferrous Metals Series Weakness Impacts SiMn Alloy 65/17 Market to Fluctuate Downward By the end of this Friday, in the northern market, SiMn alloy 65/17 (cash) was 5,950-6,050 yuan/mt, down 100 yuan/mt MoM; in the south China market, SiMn alloy 65/17 (cash) was 6,050-6,150 yuan/mt, down 100 yuan/mt MoM. According to SMM, on the raw material side, manganese ore transactions were quiet during the week, with high-grade manganese oxide ore spot market dropping slightly. Supply side, due to weak cost support, SiMn alloy plants showed low willingness to quote actively. Demand side, downstream steel mills purchased cautiously, putting pressure on prices for SiMn alloy, leading to a slight drop in quotations from SiMn alloy plants.