Downstream procurement enthusiasm was weak after the holiday, and spot prices were in the doldrums [SMM SiMn Weekly Review]

[SMM SiMn Weekly Review: Downstream Procurement Enthusiasm Remains Weak Post-Holiday, Spot Prices in the Doldrums] As of Friday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,450-5,550 yuan/mt, down 50 yuan/mt WoW from last Friday; in the southern market, it was 5,450-5,650 yuan/mt, also down 50 yuan/mt WoW from last Friday. According to SMM, on the raw material side, manganese ore prices continued to decline, weakening the cost support for SiMn. On the supply side, fluctuations in SiMn mills' production schedules were relatively small, with some SiMn mills in the southern region expressing willingness to resume production. SiMn mills' willingness to offer quotes actively remained weak, with some holders' quotes dropping slightly. On the demand side, downstream steel mills were cautious in procuring SiMn, mostly waiting for mainstream steel tenders to commence.