Futures Fluctuate Upward While Spot Prices Remain Stable [SMM Manganese Silicon Futures Review]

【SMM SiMn Alloy Futures Review: Futures Market Fluctuated Upward, Spot Prices Remained Stable】 The SM2505 contract opened at 6,496 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,532 yuan/mt, up by 0.03%. The daily high was 6,542 yuan/mt, and the low was 6,462 yuan/mt. Trading volume reached 300,302 lots, and open interest stood at 449,645 lots. Raw material side, miners mostly adopted a wait-and-see attitude, with relatively small fluctuations in external quotations, and manganese ore spot prices remained stable. Spot side, SiMn alloy producers showed weak willingness to actively quote, while manganese ore costs continued to provide support. SiMn alloy holders exhibited weak willingness to sell at low prices. Demand side, mainstream steel mill bidding prices were finalized, but steel mills showed weak enthusiasm for SiMn alloy procurement and mostly maintained a wait-and-see attitude.