Mainstream Steel Bidding Enters the Market, with Most Holding a Wait-and-See Attitude [SMM Weekly Review]

Jan 10, 2025, at 5:27 pm

[SMM Weekly Review: Mainstream Steel Bidding Enters the Market, Most Participants Hold a Wait-and-See Attitude] As of this Friday, the spot price of SiMn alloy 65/17 (cash) in north China was 5,750-5,950 yuan/mt, flat WoW; in south China, it was 5,900-6,100 yuan/mt, also flat WoW. According to SMM, during the week, Gabon manganese ore saw concentrated supply, with miners standing firm on quotes, leading to a slight rise in spot prices. Supply side, most SiMn alloy plants held back from selling, showing weak willingness to sell at low prices, and mainly fulfilled long-term contracts. Demand side, downstream steel mills were cautious in purchasing SiMn alloy, with mainstream steel bidding entering the market, while most participants held a wait-and-see attitude.

As of this Friday, the spot price of SiMn alloy 65/17 (cash) in the north China market was 5,750-5,950 yuan/mt, flat WoW; in the south China market, it was 5,900-6,100 yuan/mt, also flat WoW. According to SMM, Gabon manganese ore saw a slight rise in spot prices during the week due to concentrated supply and miners standing firm on quotes. Supply side, many SiMn alloy plants held back from selling, showing weak willingness to sell at low prices, and mainly fulfilled long-term contracts. Demand side, downstream steel mills were cautious in purchasing SiMn alloy, with mainstream steel tenders entering the market, while most participants adopted a wait-and-see attitude. 》Click to view SMM manganese spot prices

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