WEEKLY: China's SiMn prices drop, output falls

China's silicomanganese (SiMn) prices declined during the week of June 15-18, with the national price of 6517 SiMn under Mysteel's assessment sliding by Yuan 99/t on week to Yuan 5,695/tonne ($840/t) including the 13% VAT on June 18, the last working day before China's Dragon Boat Festival on June 19.

The negative market sentiment also caused prices in the derivative market to ease. On June 18, the most-traded SiMn contract on the Zhengzhou Futures Exchange for delivery in September closed the daytime trading session at Yuan 5,856/t, lower by Yuan 154/t from the settlement price on June 12, according