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WEEKLY: China's SiMn prices drop to two-month low

ABSTRACT

Chinese silicomanganese prices posted a substantial fall over the past week, undermined by the weak futures market for the ferroalloy, with the national price of 6517 SiMn under Mysteel's assessment reaching Yuan 8,300/tonne ($1,221/t) EXW and including the 13% VAT as of May 13, sliding by Yuan 110/t from one week before.
The SiMn futures price on the Zhengzhou Commodity Exchange (ZCE) declined significantly last week following the downtrend in the ferrous market, aggravating the pessimism in the physical market, Mysteel Global noted.   As of May 13, the most-traded SiMn contract on the ZCE for delivery in September closed the daytime trading session at

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