The SiMn market holds up well. Pay attention to the implementation of the minutes from the meeting on addressing "rat race" competition [SMM SiMn Daily Review]

Published: Jul 30, 2025 16:23

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As of Wednesday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,700-5,800 yuan/mt, up 100 yuan/mt WoW from Wednesday last week; in the southern market, the price of SiMn alloy 65/17 (cash) was 5,725-5,825 yuan/mt, up 100 yuan/mt WoW from Wednesday last week. Cost side, the manganese ore market has continued to strengthen recently, with offers gradually increasing. Traders have shown low willingness to sell at low prices, and prices of various manganese ore varieties have risen to different extents. At the beginning of this week, the average price of manganese ore increased by 0.5 yuan/mtu. The supply of South African ore at southern ports has been tight recently, with the center of transaction prices moving upwards, making it more difficult for factories to negotiate prices. In addition, coke prices have been raised by a cumulative 200 yuan/mt, further strengthening cost support. Factory side...

July 30 news: As of Wednesday this week, the price of SiMn alloy 65/17 (cash) in the northern market was 5,700-5,800 yuan/mt, up 100 yuan/mt from Wednesday last week. In the southern market, the price of SiMn alloy 65/17 (cash) was 5,725-5,825 yuan/mt, also up 100 yuan/mt from Wednesday last week.

On the cost side, the manganese ore market has continued to strengthen recently, with quotes gradually rising. Traders have shown low willingness to sell at low prices, and various types of manganese ore have seen different degrees of increase. At the beginning of this week, the average price of manganese ore increased by 0.5 yuan/mtu. The supply of South African ore at southern ports has been tight recently, with the center of transaction prices moving up and the difficulty for factories in negotiating prices increasing. In addition, coke prices have been raised by a cumulative 200 yuan/mt, further strengthening cost support.

On the factory side, the news that top-tier enterprises in the manganese alloy sector reached a consensus on energy conservation and emission reduction of 30%-40% last Friday stimulated a surge in manganese silicon prices, causing them to hit the daily limit. At the beginning of this week, the futures market for SiMn oscillated around 6,000 yuan/mt. The tense sentiment in the Inner Mongolia and Ningxia SiMn markets has eased somewhat. Coupled with strong cost support from manganese ore and coke, this has driven up high-level sentiment, with SiMn factory quotes increasing by 100 yuan. The profits of SiMn factories have gradually recovered.

Overall, with strong cost support and stable demand for alloys from the steel industry, the SiMn market is showing signs of recovery. It is expected that the SiMn market will hold up well in the short term, but close attention should still be paid to the follow-up implementation progress of meeting minutes and changes in the supply and demand situation.

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