Futures Fluctuate Downward While SiMn Alloy Spot Remains Stable [SMM SiMn Market Review]

[SMM SiMn Alloy Futures Review: Futures Market Fluctuates Downward, SiMn Spot Remains Stable] The SM2505 contract opened at 7,168 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,664 yuan/mt, a decline of 8.01%. The daily highest price was 7,168 yuan/mt, and the lowest was 6,664 yuan/mt. Trading volume reached 1.3649 million lots, with an open interest of 560,942. On the raw material side, manganese ore prices remained high, but downstream alloy plants showed low acceptance of high-priced manganese ore. Miners slightly loosened their quotations, with some holding back from selling. On the spot side, SiMn alloy plants showed weak willingness to actively quote prices. Downstream mainstream steel tenders entered the market, and most participants are waiting for the progress of steel tenders.