WEEKLY China's SiMn prices remain weak

China's silicomanganese (SiMn) prices lost more ground during the week of May 6-9, with the national price of 6517 SiMn under Mysteel's assessment decreasing to Yuan 5,901/tonne ($868/t) including the 13% VAT on May 9, a compensatory working day in China due to the May Day holiday. The price was lower by Yuan 50/t from April 30, the last working day before the long May 1-5 break.

Prices in the derivative market also weakened. On May 8, the most-traded SiMn contract on the Zhengzhou Futures Exchange for delivery in July closed the daytime trading session at Yuan 6,008/t, lower by Yuan 86/t from the settlement price on April 30, according to the exchange's data. China's SiMn market