MONTHLY: China's SiMn prices to remain weak in May

The continuing mismatch between supply and demand will keep China's silicomanganese (SiMn) prices weak this month, though production may decline further should the margin losses being endured by domestic SiMn smelters deepen, according to Mysteel's latest monthly survey.

As of May 7, the national price of 6517 SiMn under Mysteel's assessment was at Yuan 5,529/tonne ($764/t) including the 13% VAT, sliding by Yuan 274/t from one month before. As for the derivative market, the most-traded SiMn contract on the Zhengzhou Futures Exchange for delivery in September closed the