WEEKLY: China's SiMn prices recover further, output rises

China's silicomanganese (SiMn) prices continued to recover during the week of August 10-14, with the national price of 6517 SiMn under Mysteel's assessment reaching Yuan 5,690/tonne ($844/t) including the 13% VAT on August 14, increasing by Yuan 92/t from the week before.

Prices in the derivative market remained strong, boosting sentiment in the domestic market and driving up prices for spot sales, Mysteel Global noted. Last Friday, the most-traded SiMn contract on the Zhengzhou Futures Exchange for delivery in November closed the daytime trading session at Yuan 5,828/t, higher by Yuan 114/t