WEEKLY: China's SiMn prices remain firm, sentiment improves

China's silicomanganese (SiMn) prices strengthened steadily during the week of August 17-21, as market sentiment improved with the better performance of SiMn futures and the firm cost support SiMn prices received from higher prices of manganese ore, Mysteel Global learned.

On August 21, Mysteel assessed the national price of 6517 SiMn at Yuan 5,762/tonne ($857/t) including the 13% VAT, jumping by Yuan 72/t from one week earlier. As for the derivative market, the most-traded SiMn contract on the Zhengzhou Futures Exchange for delivery in November closed the daytime trading session