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  [SMM Chromium Daily Review] Post-Holiday Market Remains Stable, Chromium Producers Hold Prices Firm

  [SMM Chrome Daily Review: Post-Holiday Market Remained Stable, Chrome Producers Mainly Held Prices Firm] January 5, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,050-8,150 yuan/mt (50% metal content), flat MoM from the previous trading day...

• Iron Ore Prices Fluctuate at Highs, Market Trading Activity Remains Weak [SMM Brief Comment]

• SiMn Spot Price Rises, Futures Fluctuate [SMM SiMn Futures Review]

  1. On the 5th, the SM2603 contract opened at 5,948 yuan/mt and closed at 5,874 yuan/mt, down 0.78%. The highest price for the day was 5,948 yuan/mt, and the lowest price was 5,866 yuan/mt. Trading volume was 141,300 lots, and open interest was 269,474 lots. Today, the SiMn futures fluctuated downward, with the median price rising compared to pre-holiday levels, while spot prices rose slightly. Cost side, at the beginning of the week, the core raw material manganese ore market consolidated, with traders' offers remaining firm, and manganese ore prices did not decline. Supply side, previously added SiMn furnaces started production, increasing capacity, and alloy plants in the main northern production areas operated steadily. In south China, alloy plants maintained low and stable operating rates, awaiting next year's electricity price preferential policies, and continued valley-shift production. Demand side, short-term demand drivers were limited, awaiting the release of a new round of steel tender prices. Currently, the SiMn market is holding up well, but continued attention to fundamental supply-demand conditions is still needed.

• SHFE lead edged up slightly during the day, with the three KDJ lines converging. [Lead Futures Brief Review]

• [SMM Survey Daily Briefing] 20260105

  [SMM Daily Coke Review] Supply side, the fourth round of coke price cuts has been implemented, with most coke producers already operating at a loss. However, downstream steel mills still have rigid demand for procurement, and inventory buildup at coke plants has improved. Most coke producers are maintaining stable coke supply for the time being. Demand side, lower raw material prices have helped restore steel mill profits. Currently, blast furnace operations remain stable, with some furnaces resuming production. Hot metal output is expected to increase, driving higher demand for coke restocking. However, steel prices are fluctuating downward, and end-use consumption has not shown significant improvement. Steel mills still anticipate further coke price reductions. Overall, the coke market is likely to remain stable with a weakening trend in the short term.