WEEKLY: China's SiMn prices weaken further

China's silicomanganese (SiMn) prices slipped some more during the week of June 8-12, with Mysteel assessing the national price of 6517 SiMn at Yuan 5,794/tonne ($857/t) including the 13% VAT on June 12, lower by Yuan 30/t from one week before.

Although SiMn prices in the derivative market remained firm last week, they failed to bolster prices for spot sales, Mysteel Global learned, with the wait-and-see sentiment still prevailing in the domestic market. On June 12, the most-traded SiMn contract on the Zhengzhou Futures Exchange for delivery in September closed the daytime