Futures Market Fluctuates Downward, Spot Price Drops Again [SMM Manganese Silicon Futures Review]

[SMM SiMn Alloy Futures Review: Futures Fluctuate Downward, Spot Prices Drop Again] The SM2505 contract opened at 6,426 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,440 yuan/mt, down 1.17%. The daily high was 6,504 yuan/mt, and the low was 6,412 yuan/mt. Trading volume reached 554,411 lots, with an open interest of 476,820. Raw material side, miners mostly maintained a wait-and-see attitude, with some holding back from selling. Spot market transactions dropped back slightly. Spot side, SiMn alloy plants mostly held back from selling, market pessimism persisted, and spot prices dropped again under the influence of the futures market fluctuating downward.