WEEKLY: China's SiMn prices fall to 3-year low

Chinese silicomanganese (SiMn) prices slid further during the past week, with the national price of 6517 SiMn under Mysteel's assessment touching Yuan 6,239/tonne ($869/t) including the 13% VAT as of December 8, lower by another Yuan 57/t on week and marking the lowest since December 21 2020.

Bidding prices for the ferroalloy tabled by major steelmakers for delivery in December were markedly lower than those for November, aggravating the pessimism in the domestic market, Mysteel Global learned. For example, Hebei Iron and Steel Group, a major steel producer in North China's Hebei province, has confirmed its SiMn