The supply surplus situation persists, and the SiMn alloy market remains stable temporarily [SMM Weekly Review].

SMM Weekly Review: Supply Surplus Persists, SiMn Alloy Market Remains Stable. As of this Friday, the price of SiMn alloy 65/17 (cash) in north China was 5,950-6,050 yuan/mt, flat WoW; in south China, it was 6,050-6,150 yuan/mt, flat WoW. According to SMM, on the raw material side, port manganese ore inventory remained relatively low, but alloy plants showed weak purchasing enthusiasm for manganese ore, and the spot price of manganese ore remained stable. Supply side, SiMn alloy plants were reluctant to actively quote, and the futures market fluctuated downward, with pessimistic market sentiment. Demand side, downstream steel mills were cautious in purchasing SiMn alloy, and the market mainly focused on fulfilling long-term contract orders, with spot orders being sluggish. During the week, the supply surplus in the SiMn alloy market persisted, with insufficient downstream demand support, and the spot price remained stable. Attention should be paid to the production cuts of SiMn alloy plants and the actual purchasing changes of downstream steel mills in the future.