Futures Market Moves Sideways, Spot Silicon Manganese Remains Consolidated [SMM Silicon Manganese Futures Review]

[SMM SiMn Alloy Futures Review: Futures Market Shows Sideways Movement, Spot Prices Remain Consolidated] The SM2505 contract opened at 6,600 yuan/mt, experienced sideways movement after the morning session, and finally closed at 6,724 yuan/mt, down 0.36%. The daily high was 6,730 yuan/mt, and the low was 6,486 yuan/mt. Trading volume reached 638,103 lots, with an open interest of 382,128 lots. Raw material side, manganese ore transactions slowed, but miners' quotations remained firm, and spot prices held steady. Spot side, many SiMn alloy plants held back from selling, while downstream demand slowed, with most waiting for mainstream steel tender pricing.