Silicon manganese spot market operated weakly, with most parties adopting a wait-and-see attitude [SMM Manganese Silicon Futures Review]

The SM2501 contract opened at 6,506 yuan/mt, fluctuated within a range after the opening in the morning, and finally closed at 6,442 yuan/mt, down 1.29%. The highest price of the day was 6,518 yuan/mt, and the lowest was 6,346 yuan/mt. Trading volume was 253,068 lots, and open interest was 348,634. Supply side, silicon manganese plants' willingness to sell remained weak, mainly fulfilling orders. Demand side, downstream steel mills showed weak enthusiasm for purchasing silicon manganese, and the first round of inquiries from mainstream steel mills was relatively low, with most parties adopting a wait-and-see attitude.