Key Facts
A major Hebei steel mill has issued its August SiMn 6517 tender inquiry price at 5,800 yuan/mt on a tax-included acceptance basis, down 150 yuan/mt from July's settled price. A Guangdong steel mill has finalized its latest SiMn alloy tender price at 5,800 yuan/mt on a tax-included acceptance basis, basis-adjusted, for 2,500 mt. Rizhao Steel plans to tender 3,000 mt of SiMn alloy, with results pending.
Market Changes
The SiMn market remained rangebound and watchful today. As a new round of demand gradually releases, and representative steel mills' procurement volumes increased month-on-month, while SiMn supply continues to contract, the market's acceptance of deeper price concessions is extremely low. Influenced by firmer futures prices, SiMn prices are slightly steadier, but the core driver of the futures rise is not primarily from SiMn fundamentals. In the short term, the SiMn market has not yet escaped its weak pattern, with market attention on final steel tender pricing and futures movements.