SiMn market transactions are sluggish, with spot prices still in the doldrums. [SMM SiMn Daily Review]

[SMM SiMn Daily Review: Sluggish Trading in SiMn Market, Spot Prices Remain in the Doldrums] In the northern market, the price of SiMn alloy 65/17 (cash) is 5,550-5,650 yuan/mt, down 50 yuan/mt WoW from last Wednesday. In the southern market, the price of SiMn alloy 65/17 (cash) is 5,550-5,750 yuan/mt, down 50 yuan/mt WoW from last Wednesday. According to SMM, on the raw material side, port inventory of manganese ore continues to decline slowly. Before the Labour Day holiday, alloy plants made small purchases of high-grade manganese oxide ore. After the holiday, the manganese ore market saw sluggish purchasing, mainly for non-mainstream manganese ore, leading to a decline in spot prices of manganese ore. On the supply side, due to severe production losses, SiMn plants still have plans to reduce or halt production. On the demand side, downstream buyers are currently sluggish in purchasing SiMn, mostly waiting for mainstream steel tenders to enter the market.