Sideways Movement in the Futures Market, Market Transactions Remain Sluggish [SMM Manganese Silicon Futures Review]

[SMM SiMn Alloy Futures Review: Sideways Movement in Futures Market, Sluggish Market Trading] The SM2505 contract opened at 6,722 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,702 yuan/mt, up by 1.36%. The daily high was 6,740 yuan/mt, and the low was 6,634 yuan/mt. Trading volume was 409,992 lots, and open interest was 381,769 lots. Raw material side, the manganese ore market remained stable, with overall sluggish transactions and firm offers from miners. Spot side, most SiMn alloy plants maintained normal production, while some reduced output. Demand side, downstream demand for SiMn alloy purchases was weak, with sluggish market trading as most awaited mainstream steel tender pricing.