Spot SiMn Alloy Continues to Fluctuate Downward as the Market Remains in a Wait-and-See Mode [SMM Weekly Review]

[SMM Weekly Review: SiMn Alloy Spot Market Continues to Fluctuate Downward, Market Participants Mostly Hold a Wait-and-See Attitude] As of this Friday, the SiMn alloy 65/17 (cash) in the north China market was priced at 5,750-5,950 yuan/mt, flat WoW; in the south China market, it was priced at 5,900-6,100 yuan/mt, also flat WoW. According to SMM, transactions in the manganese ore market were relatively quiet during the week. Before the New Year holiday, downstream alloy plants showed weak purchasing enthusiasm for manganese ore, while after the holiday, alloy plants became more active in inquiries. Miners maintained firm offers, with a relatively weak willingness to sell at low prices. Supply side, SiMn alloy production remained relatively stable overall. SiMn alloy plants in north China continued to operate at high rates, while those in south China maintained low operating rates. Affected by the futures market's persistent downward fluctuations, market sentiment for SiMn alloy pulled back. Demand side, downstream steel mills showed weak enthusiasm for purchasing SiMn alloy, with inquiries in the market remaining quiet. Most participants held a wait-and-see attitude, awaiting the entry of mainstream steel tenders.