Spot price sees slight boost in the short term, while long-term attention remains on market supply and demand [SMM SiMn Daily Review]

July 9 news: As of Wednesday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,500-5,600 yuan/mt, up 50 yuan/mt WoW from Wednesday last week; in the southern market, the price of SiMn alloy 65/17 (cash) was 5,600-5,700 yuan/mt, up 50 yuan/mt WoW from Wednesday last week.

This week, the futures market performance of SiMn was positive, driving a slight increase in spot prices. On the factory side, although the current SiMn futures market has been maintaining around 5,800 yuan/mt recently, the strong support from raw material costs has kept SiMn alloy in an inverted state. This week, HBIS Group set the July price of SiMn at 5,850 yuan/mt, higher than the expected price, which has boosted the sentiment of SiMn manufacturers. Quotations are generally firm, but whether the transaction price will continue to rise remains to be followed up.

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