Futures Market Sideways Movement, SiMn Alloy Market Temporarily Stable [SMM Silicon Manganese Futures Review]

[SMM SiMn Alloy Futures Review: Futures Market Shows Sideways Movement, SiMn Alloy Market Remains Stable] The SM2505 contract opened at 6,318 yuan/mt, experienced sideways movement after the morning session, and finally closed at 6,316 yuan/mt, up by 0.06%. The daily high was 6,388 yuan/mt, and the low was 6,284 yuan/mt. Trading volume was 278,234 lots, and open interest was 410,143 lots. Raw material side, the manganese ore market remains consolidated with relatively small fluctuations. Spot side, many SiMn alloy plants are holding back from selling, while some holders have slightly lowered their offers. Downstream, steel mills are cautious in procuring SiMn alloy and mostly adopting a wait-and-see approach.