Futures Fluctuate Downward While the Spot Market Remains Stable [SMM Manganese Silicon Futures Review]

[SMM SiMn Alloy Futures Review: Futures Fluctuate Downward, Spot Market Remains Stable] SM2505 contract opened at 6,080 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,068 yuan/mt, down 0.62%. The daily high was 6,116 yuan/mt, and the low was 6,054 yuan/mt. Trading volume reached 85,360 lots, and open interest stood at 339,397. Raw material side, miners' quotations at the beginning of the week were mainly cautious, maintaining last week's firm stance, with weak willingness to sell at low prices. Spot side, SiMn alloy was affected by the downward fluctuation in the futures market, and the spot market continued to fluctuate downward. SiMn alloy producers showed weak willingness to sell at low prices. Downstream steel mills remained cautious in purchasing SiMn alloy, with all parties mostly adopting a wait-and-see attitude.