Mainstream Steel Tender Pricing Remains Stable in the Spot Market [SMM Manganese Silicon Futures Review]

【SMM SiMn Alloy Futures Review: Mainstream Steel Tender Pricing, Spot Market Temporarily Stable】SM2505 contract opened at 6,408 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,344 yuan/mt, down 1.67%. The daily high was 6,460 yuan/mt, and the low was 6,324 yuan/mt. Trading volume reached 251,896 lots, and open interest was 416,695. Raw material side, port manganese ore inventory continued to decline, with some miners slightly raising their quotations, but actual transactions have yet to follow up. The manganese ore spot market remained temporarily stable. Spot side, many SiMn alloy plants held back from selling and maintained a wait-and-see attitude toward the market. Downstream steel mills were cautious in procuring SiMn alloy. Mainstream steel tender pricing has been finalized, with attention on the actual procurement situation of SiMn alloy downstream.