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Speculation Demand Weakened and SiMn Prices Fell 1.40%
Jan 16, 2023 17:18CST
Source:SMM
Today, the most-traded SM 2305 contract opened at 7,620 yuan/mt and finally stabilised and closed at 7,592 yuan/mt,

SHANGHAI, Jan 16 (SMM) - Today, the most-traded SM 2305 contract opened at 7,620 yuan/mt and finally stabilised and closed at 7,592 yuan/mt, with the highest point of 7,662 yuan/mt, the lowest point of 7,520 yuan/mt and the daily average price of 7,587 yuan/mt, down 1.40%. Trading volume was 152,430 lots, and open interest decreased by 20,326 lots to 177,663 lots. In terms of fundamentals, with the tight policy supervision, the market speculative demand weakened. Coupled with the upcoming Chinese New Year, the market turned colder. In the short term, the SiMn prices will remain volatile.

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