The Futures Market Moved Sideways, and Spot Prices Rose Slightly [SMM Manganese Silicon Futures Review]

[SMM SiMn Alloy Futures Review: Sideways Movement in Futures Market, Spot Prices Rise Slightly] The SM2505 contract opened at 6,568 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,496 yuan/mt, with no change in percentage. The daily high was 6,570 yuan/mt, and the low was 6,488 yuan/mt. Trading volume reached 363,979 lots, and open interest stood at 459,422 lots. On the raw material side, manganese ore has not yet been affected by the news of reduced shipments from Australia, and spot prices remain stable. On the spot side, SiMn alloy plants showed weak willingness to sell at low prices, mainly fulfilling previous orders. Downstream, steel mills showed weak enthusiasm for SiMn alloy procurement, and attention should still be paid to the actual procurement situation of downstream steel mills.