UTC+8 ( BJT)

WEEKLY: China SiMn prices dip, sentiment softening

Chinese silicomanganese (SiMn) prices continued to soften over the past week, undermined by the negative sentiment in the domestic market. As of September 25, the price of 6517 grade SiMn in North China had decreased to Yuan 6,025/tonne ($883/t) EXW and including the 13% VAT, losing another Yuan 50/t on week, according to Mysteel’s data.
The domestic SiMn market faced more pressure from the higher output of this ferroalloy and the delayed demand from steelmakers. “Most steel mills have not returned to the market to start theirpurchasing forOctober,” a market source in Shanghai commented, adding that the pressure may strengthen further if major mills hold off submitting bids for October

............

To read the full article take a free 7-day trial to Mysteel Global

FREE TRIAL
+65 6653 8227