SunSirs: Weekly Report of Silicomanganese Market Last Week
March 20 2023 14:28:56On March 20th, the benchmark price of Silicomanganese for the business community was 7133.33 RMB/ton, a decrease of -2.22% compared to the beginning of this month (7295.00 RMB/ton).
Overall, recent fundamental news has been mixed, and there have been continuous negative news coming out of the macro and external environment. The "Golden Three" has fallen short of expectations. The overall market sentiment has shifted from positive to negative, and spot trading has also been relatively cautious. The overall market volume is moderate, with inventory pressure in the north increasing, and steel mills suffering from tight profits. It is expected that there will be a pressure on the price of siliconmanganese, and parties have a low willingness to stock. However, the policy finalization at the important meeting makes it imperative to stimulate the market economy. Some views expect that infrastructure construction will show signs of recovery when the "Silver Fourth" comes, and slightly boost market confidence. It is expected that there is a high possibility of maintaining a strong bottom price for Silicomanganese in the short term.
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