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WEEKLY: China's SiMn prices fall faster to 4-month low

ABSTRACT

Chinese silicomanganese prices decreased at a faster pace last week, with the national price of 6517 SiMn under Mysteel's assessment sliding to Yuan 8,042/tonne ($1,203/t) including the 13% VAT as of June 17, down Yuan 125/t on week, as against the on-week decline of Yuan 26/t during the prior week.
The sharper decrease was mainly attributed to the thin demand from steel producers and the weakness of the domestic ferrous market, Mysteel Global learned.   "Some steel mills have plans to reduce their production, given their shrinking profit margins with the fall in steel prices. This means their consumption of steelmaking raw

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