March 5 News: The SM2505 contract opened at 6,324 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,356 yuan/mt, up 0.44%. The daily high was 6,372 yuan/mt, and the low was 6,262 yuan/mt. Trading volume was 295,030 lots, and open interest was 418,301. Raw material side, the manganese ore market quotes are slightly chaotic, with mixed high and low prices, and manganese ore prices remain stable for now. Spot side, SiMn alloy producers show weak willingness to quote actively, while manganese ore costs still provide support, and SiMn alloy holders show weak willingness to sell at low prices. Demand side, mainstream steel tenders have entered the market, but steel mills show weak enthusiasm for SiMn alloy procurement and mostly remain on the sidelines.
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