SMM

As of this Friday, the spot prices of SiMn alloy 65/17 in the north China market were 6,000-6,150 yuan/mt (cash), up 25 yuan/mt WoW; in the south China market, the prices were 6,100-6,250 yuan/mt (cash), up 25 yuan/mt WoW. According to SMM, on the raw material side, miners' quotes remained firm, and their willingness to sell at low prices was weak. However, downstream alloy plants were cautious in purchasing and had low acceptance of high-priced manganese ore, leading to a tug-of-war between sellers and buyers in the manganese ore market, with overall spot prices fluctuating slightly. Supply side, SiMn alloy plants showed a weak willingness to sell at low prices during the week, resulting in fewer low-priced goods in the market. As the month is about to end, SiMn alloy plants mainly focused on fulfilling long-term contract orders, and spot order transactions were generally mediocre. Demand side, downstream steel mills were cautious in purchasing SiMn alloy, with most parties adopting a wait-and-see attitude, awaiting the beginning of tenders by mainstream steel mills.