WEEKLY: China's SiMn prices recover on cost support

China's silicomanganese (SiMn) prices recovered in the second half of the week over October 19-23, mainly due to firming cost support and the better performance of SiMn futures, Mysteel Global learned.

On October 23, Mysteel assessed the national price of 6517 SiMn at Yuan 5,721/tonne ($858/t) including the 13% VAT, rising by Yuan 49/t from one week before. Many domestic manganese ore traders raised their offers during the week, given their higher import costs and severe losses on sales of ore.