Market Sentiment Pulls Back, SiMn Alloy Market Fluctuates Downward [SMM SiMn Alloy Market Review]

[SMM SiMn Alloy Futures Review: Market Sentiment Pulls Back, SiMn Alloy Market Fluctuates Downward] SM2501 contract opened at 6,088 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,102 yuan/mt, down 0.03%. The daily high was 6,120 yuan/mt, and the low was 6,068 yuan/mt. Trading volume reached 84,525 lots, and open interest stood at 314,153. Raw material side, the manganese ore market saw sluggish transactions before the holiday, with the spot manganese ore market remaining stable. Spot side, most SiMn alloy plants continued to hold back from selling, and SiMn alloy plant quotations dropped slightly. The futures market continued to fluctuate downward, and market sentiment slightly pulled back. Demand side, pre-holiday procurement remained cautious, with weak enthusiasm for SiMn alloy purchases. Attention is still needed on the actual pre-holiday procurement of SiMn alloy by steel mills.