WEEKLY: China's SiMn prices to keep rangebound after CNY holiday

China's silicomanganese (SiMn) prices are expected to remain rangebound after the Chinese New Year (CNY) holiday ended on February 23, mainly due to the dual impact of high-level SiMn inventories and support from the cost side, Mysteel Global learned.

The national price of 6517 SiMn was assessed by Mysteel at Yuan 5,624/tonne ($818/t) including the 13% VAT on February 24, the first working day in China after the extended CNY break, dipping by Yuan 10/t from the pre-holiday level. SiMn prices in the derivatives market also weakened, with the