The SM2409 contract opened at 7,500 yuan/mt, fluctuating upward, and finally closed at 7,592 yuan/mt, an increase of 0.05%. The highest price of the day was 7,636 yuan/mt, and the lowest price was 7,432 yuan/mt. Trading volume was 121,069 lots, and open interest was 299,073 lots. The SiMn alloy market ran weak, with spot prices declining. Mainstream steel mills' tenders began, but actual demand and the first round of inquiry prices were still lower than expected. Attention should be paid to the future guidance of steel mills' tenders on SiMn alloy market prices.