WEEKLY: China's SiMn prices strengthen on cost support

China's silicomanganese (SiMn) prices remained firm during January 26-30, with the national price of 6517 SiMn under Mysteel's assessment reaching Yuan 5,687/tonne ($818/t) including the 13% VAT on January 30, rising by Yuan 41/t on week.

Prices in the derivative market also strengthened during the week. On January 30, the most-traded SiMn contract on the Zhengzhou Futures Exchange for delivery in May closed the daytime trading session at Yuan 5,872/t, higher by Yuan 20/t from the settlement price on January 23, according to the exchange's