SiMn Alloy Fluctuates Downward as Market Remains Cautious [SMM SiMn Market Review]

[SMM SiMn Alloy Futures Review: SiMn Alloy Fluctuates Downward, Market Mostly Observing] The SM2501 contract opened at 6,166 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,110 yuan/mt, down 1.04%. The daily high was 6,188 yuan/mt, and the low was 6,106 yuan/mt. Trading volume reached 113,422 lots, with an open interest of 295,189. Raw material side, the manganese ore spot market saw sluggish transactions, and manganese ore spot prices remained in consolidation. Supply side, SiMn alloy plants currently show weak willingness to offer externally, focusing mainly on long-term contracts. Due to the futures market's continued downward fluctuation, market sentiment pulled back, and some SiMn alloy plants are expected to cut production. SiMn alloy supply is anticipated to decrease slightly in the future.