Downstream Procurement Remains Cautious, SiMn Alloy Spot Prices Temporarily Stable [SMM SiMn Alloy Daily Review]

[SMM SiMn Alloy Daily Review: Downstream Procurement Remains Cautious, SiMn Alloy Spot Prices Temporarily Stable] In the northern market, SiMn alloy 65/17 (cash) was priced at 5,750-5,950 yuan/mt, while in the southern market, SiMn alloy 65/17 (cash) was priced at 5,900-6,100 yuan/mt. According to SMM, on the raw material side, manganese ore port arrivals and port inventories have decreased, and miners maintained a strong sentiment to stand firm on quotes. Supply side, SiMn alloy producers showed weak willingness to sell at low prices, with some holding back from selling and observing the progress of steel mill tenders. Demand side, downstream steel mills were cautious in procurement, with mainstream steel mill tenders entering the market. Market participants mostly adopted a wait-and-see attitude, and attention should be paid to the pricing of mainstream steel mill tenders in the future.