Market Information: Futures of silicomanganese has exceeded 8,000 yuan and the spot seems to rise accordingly.
According to the latest news, a steel plant in Henan announced its bid price of silicomanganese in August. It purchased 4,000 tons at the price of 7,780 yuan/ton (half in cash). With production suspension and reduction in factories of some regions, the output of silicomanganese was significantly decreased (it is said that many companies have not yet completed the orders of steel plants). The scarcity of silicomanganese together with the better futures performance (the day before yesterday: Max. 8064 and Min. 7740; yesterday: Max. 8000 and Min. 7902; today: Max. 8040 and Min. 7820) greatly supported the spot market (A better situation in the futures market increased companies’ enthusiasm for transactions). As the silicomanganese market went positive and related companies were strongly willing to keep the selling price stable, it was expected that the share prices would rise. Given that the leading steel company had not called for bid of silicomanganese in August, the market players operated cautiously. Today, the silicomanganese market is running steadily, and the actual quotation does not fluctuate significantly. Data showed that the current quotation of silicomanganese 6517# remains around 7,500-7,600 yuan/ton. According to the Alloy Index, as of 9:00 am on July 30, the silicomanganese...
July 30
