Chinese silicon manganese prices drop
The Chinese silicon manganese market remained steady despite a slight decline in prices by RMB 100/t (14 usd/t) amid cautious sentiments. The overall pace of trading activity remained average.
Spot prices of silicon manganese (60-14) hovered around 7,850RMB/t-8,050RMB/t (1,084-1,112usd/t) ex-works and inclusive of taxes.
Overall market sentiment remained cautious, with buyers and sellers adopting a wait-and-see approach. Spot market caution leads to conservative factory quotations. Recovery is expected in the alloys markets in the near term.
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