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Last week, the spot market of silicon manganese weakened in China, and some manufacturers frequently lowered their quotations. Among them, the mainstream quotations of silicon manganese 6517 are concentrated around 8200-8300 RMB/ton. With the second round of silicon manganese purchase price in December finalized by the Northern significant steel works is 8750 RMB/ton, which is 200 RMB/ton lower than the first round of purchase price. Affected by this, some steel mills with delayed purchasing have also lowered their target price expectations, and traders would like to wait.
In this situation, the pessimism of the silicon manganese alloy market has further increased. In the short run, the manganese market or continues to weaken. but some of the prices have approached the cost line in the southern China.
And now, the manganese ore prices are also lower now, the market participants would like to take a wait and see attitude.