The futures market continued to fluctuate downward, while the spot price remained stable. [SMM Manganese Silicon Futures Review]

SMM SiMn Alloy Futures Review: Futures Market Continues to Fluctuate Downward, Spot Prices Remain Stable. The SM2505 contract opened at 6,128 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,076 yuan/mt, down 1.04%. The daily high was 6,138 yuan/mt, and the low was 6,054 yuan/mt. The trading volume was 182,063 lots, and the open interest was 407,264. On the raw material side, the manganese ore market showed relatively small fluctuations, and the spot market remained stable. On the spot side, SiMn alloy mills showed a weak willingness to sell at low prices, mostly holding back from selling. Some SiMn alloy mills have plans to reduce or halt production, and SiMn alloy production is expected to decline slightly in the future. Downstream steel mills remain relatively weak in their procurement of SiMn alloy.