WEEKLY: China’s SiMn prices retreat, sentiment weakening
Jun 01, 2020 17:45
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China’s silicomanganese prices retreated over the past week due to the weakening sentiment in the domestic market, with the price for 6517 grade SiMn in North China being assessed at Yuan 6,875/tonne ($966/t) EXW including the 13% VAT as of May 29, down Yuan 175/t on week, according to Mysteel’s database.
Although demand for SiMn from steelmakers
remained firm, domestic SiMn prices still faced great pressure as Chinese steel
producers tried to lower their buying prices for this ferroalloy, given their constricted
profit margins, sources said. Month-end should have been the peak time for
mills to bid, Mysteel Global notes.
At the same time, manganese ore