WEEKLY: China's SiMn prices rise further on firm cost support

China's silicomanganese (SiMn) prices continued to climb during the week of August 31-September 4, mainly driven by the strong SiMn futures market and the firm cost support provided by firmer prices of raw materials, Mysteel Global learned.

On September 4, Mysteel assessed the national price of 6517 SiMn at a four-month high of Yuan 5,866/tonne ($863/t) including the 13% VAT, higher by Yuan 64/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