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

China's silicomanganese (SiMn) prices continued firming during the week of August 24-28, with the national price of 6517 SiMn under Mysteel's assessment standing at Yuan 5,802/tonne ($863/t) including the 13% VAT on August 28, up by Yuan 40/t on week and marking the highest since June 9.

SiMn prices in the derivative market remained strong as well, driven by the better performance of ferrous futures prices overall. This gave a lift to market sentiment and drove up prices for spot sales, Mysteel Global learned. On August 28, the most-traded SiMn contract on the Zhengzhou Futures Exchange for