Futures Market Continues to Fluctuate Downward, Spot Price Drops Slightly [SMM Manganese Silicon Futures Review]

[SMM SiMn Alloy Futures Review: Futures Market Continues to Fluctuate Downward, Spot Prices Drop Slightly] The SM2505 contract opened at 6,242 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,178 yuan/mt, down 0.71%. The daily high was 6,242 yuan/mt, and the low was 6,170 yuan/mt. Trading volume reached 213,854 lots, with an open interest of 436,417. Raw material side, the manganese ore market showed relatively small fluctuations and is currently running steadily. Spot side, SiMn alloy producers showed weak willingness to offer actively, and due to production pressure, their willingness to sell at low prices was also relatively weak. Downstream, steel mills showed weak demand for SiMn alloy, with overall purchasing sentiment remaining subdued.