SMM

[SMM Weekly Review: Insufficient Downstream Demand Support, Spot Prices Dropped Slightly] As of this Friday, the SiMn alloy 65/17 (cash) in the north China market was priced at 6,050-6,150 yuan/mt, down 25 yuan/mt WoW; in the south China market, it was priced at 6,150-6,250 yuan/mt, also down 25 yuan/mt WoW. According to SMM, on the raw material side, manganese ore market quotes were slightly chaotic during the week, with some miners holding firm offers and showing weak willingness to sell at low prices. Downstream alloy plants mostly pushed for lower prices, leading to slow actual transactions. On the supply side, many SiMn alloy plants held back from selling, while some suppliers slightly lowered their quotes. On the demand side, downstream steel mills were cautious in procurement, showing weak enthusiasm for purchasing SiMn alloy.