The supply surplus in the market persists, and the spot price of silicon manganese remains stable. [SMM Silicon Manganese Daily Review]

SMM SiMn Daily Review: Supply Surplus Persists, SiMn Spot Prices Remain Stable. In the northern market, SiMn alloy 65/17 (cash) was quoted at 5,850-6,050 yuan/mt, flat MoM. In south China, SiMn alloy 65/17 (cash) was quoted at 5,950-6,150 yuan/mt, flat MoM. According to SMM, on the raw material side, most alloy plants are driving down prices for purchases, and manganese ore spot prices continue to fluctuate downward. Supply side, cost support for SiMn plants has weakened, and some SiMn holders are under pressure to lower their offers. Demand side, downstream steel mills show weak purchasing enthusiasm, mostly waiting for steel tenders to enter the market. Overall, the SiMn market still faces a supply surplus, and the spot market remains sluggish. Attention should be paid to the guidance of mainstream steel tenders on the market.