Futures Market Fluctuates Upward, Spot Price Remains Stable [SMM Manganese Silicon Futures Review]

[SMM SiMn Alloy Futures Review: Futures Market Fluctuated Upward, Spot Price Remained Stable] The SM2505 contract opened at 6,368 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,390 yuan/mt, up 0.44%. The daily high was 6,426 yuan/mt, and the low was 6,348 yuan/mt. Trading volume reached 271,689 lots, and open interest stood at 429,564. Raw material side, alloy plants showed low acceptance of high-priced manganese ore, leading to a slight decline in spot price. Spot side, SiMn alloy plants mainly focused on fulfilling orders, with weak willingness to sell at low retail prices. Downstream, steel mills remained cautious in their procurement of SiMn alloy.