Futures Fluctuate Upward, Strong Sentiment to Stand Firm on Quotes for SiMn Alloy [SMM SiMn Futures Review]

[SMM SiMn Alloy Futures Review: Futures Fluctuate Upward with Strong Sentiment to Stand Firm on Quotes] The SM2505 contract opened at 6,748 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,666 yuan/mt, up 1.15%. The daily high was 6,864 yuan/mt, and the low was 6,564 yuan/mt. Trading volume reached 1.2125 million lots, with an open interest of 397,500 lots. On the raw material side, miners significantly raised their quotes, making low-priced cargoes hard to find, while actual transactions followed slowly. On the spot side, SiMn alloy plants, affected by rising manganese ore prices, saw stronger cost support, leading to a slight increase in spot prices. On the demand side, as the year-end approaches, some steel mills have reduced or halted production, resulting in decreased SiMn alloy demand.