The Most-Traded Silicon-Manganese Contract Moved in a Downward Trend, The Market Remaining Weak

SHANGHAI, May 26 (SMM) - The SM2209 contract opened at 8,390 yuan/mt and closed at 8,234 yuan/mt. The most-traded silicon-manganese contract moved rangebound at low with the daily prices ranging between 8,198-8,412 yuan/mt, down 1.93%. Trading volume was 152,604 lots, and open interest increased by 10,179 lots to 139,915 lots. In terms of spot market, silicon-manganese market remained weak and steel bidding was tended to force down the prices. In the short term, the market of silicon-manganese alloy will still in a deadlock with prices moving rangebound.