Cost support strengthens, futures market fluctuates [SMM SiMn Daily Review]

July 23 News: As of Wednesday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,600-5,700 yuan/mt, up 100 yuan/mt from Wednesday last week; in the southern market, it was 5,625-5,725 yuan/mt, up 25 yuan/mt from Wednesday last week.

Driven by the futures market of the ferrous metals series, the recent futures market of manganese-silicon has been fluctuating around 6,000 yuan/mt, with high market sentiment. The recent rise in coking coal and manganese ore prices has strengthened cost support. Supported by these two factors, northern factories have maintained firm quotes, with high-position hedging observed and moderate profit margins. Southern factories remain cautious about the futures market's impact on spot prices, with reduced losses and limited profit margins. Overall, the spot price of SiMn has shown an upward trend.