The market lacks bullish support, and spot prices remain stable for the time being [SMM SiMn Daily Review]

[SMM SiMn Daily Review: No Positive Support in the Market, Spot Prices Remain Stable] In the northern market, the price of SiMn alloy 65/17 (cash) is 5,500-5,600 yuan/mt, down 50 yuan/mt WoW from last Wednesday; in the southern market, the price of SiMn alloy 65/17 (cash) is 5,500-5,700 yuan/mt, down 50 yuan/mt WoW from last Wednesday. According to SMM, on the raw material side, there has been a continuous inventory buildup of manganese ore at ports. Alloy plants continue to drive down prices when purchasing manganese ore, and the transaction price of spot manganese ore is under pressure. On the supply side, the cost of SiMn and the futures market have weakened, with no positive support in the market. The SiMn market remains in the doldrums. The consumption of ferrous metals in the end-user sector for SiMn is sluggish, and the enthusiasm for purchasing SiMn is weak.