Futures market fluctuates downward, spot price drops slightly [[SMM Manganese Silicon Futures Review]]

[SMM Ferrosilicon Futures Review: Futures Market Fluctuates Downward, Spot Prices Drop Slightly] The SM2509 contract opened at 5,602 yuan/mt. After the morning session, it fluctuated downward and eventually closed at 5,598 yuan/mt, down 0.39%. The daily high was 5,668 yuan/mt, and the low was 5,570 yuan/mt. Trading volume was 225,585 lots, and open interest was 437,286. On the spot side, SiMn plants' plans to reduce or halt production remain in place, and the current market still faces a supply surplus. Downstream demand-side enthusiasm for purchasing SiMn is weak, with many waiting for mainstream steel tenders to enter the market.