Futures Fluctuate Upward While Spot Prices Drop Slightly [SMM Manganese Silicon Futures Review]

[SMM SiMn Alloy Futures Review: Futures Market Fluctuated Upward, Spot Prices Dropped Slightly] The SM2505 contract opened at 6,408 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,476 yuan/mt, up by 1.38%. The daily high was 6,576 yuan/mt, and the low was 6,402 yuan/mt. Trading volume reached 715,191 lots, and open interest stood at 462,328 lots. Raw material side, manganese ore prices faced upward pressure, with alloy plants showing low acceptance of high-priced manganese ore. Actual transaction prices dropped back slightly. Spot side, manganese ore prices declined slightly, weakening cost support, and SiMn alloy spot prices fluctuated downward. SiMn alloy holders slightly lowered their external quotations, while downstream steel mills showed active inquiries.