SiMn alloy plants showed a low willingness to sell at low prices; SiMn prices slightly increased [SMM SiMn Alloy Futures Review]

Published: Oct 8, 2024 17:30

Source: SMM

Save

The SM2501 contract opened at 6,768 yuan/mt, fluctuated downward after the opening, and finally closed at 6,348 yuan/mt, a decrease of 3.67%.

The SM2501 contract opened at 6,768 yuan/mt, fluctuated downward after the opening, and finally closed at 6,348 yuan/mt, a decrease of 3.67%. The daily high was 6,816 yuan/mt, and the low was 6,310 yuan/mt. Trading volume was 402,234 lots, and open interest was 325,012 lots. After the National Day holiday, influenced by favorable macro policies, SiMn alloy plants showed weak willingness to sell at low prices, making low-priced SiMn alloy hard to find in the market. Post-holiday market quotes were chaotic, with many SiMn alloy plants mainly observing and showing low willingness to quote actively. Due to recent significant fluctuations in SiMn alloy prices, downstream was cautious in purchasing, resulting in low actual trading volume after the holiday. Attention should be paid to the actual trading situation of SiMn alloy in the future.

Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

40 mins ago

Hafnium: Strategic Core Metal for High-End Manufacturing

40 mins ago

5 hours ago

Strong Wait-and-See Sentiment; the Tungsten Market Awaited Transaction Stabilization [SMM Tungsten Daily Review]

[SMM Tungsten Daily Review: Strong Wait-and-See Sentiment as the Tungsten Market Awaited Stabilization in Transactions] SMM News, March 18 Tungsten market prices were largely stable today, with only minor fluctuations, and the market showed strong wait-and-see sentiment. Trading volume in segments such as tungsten ore and APT was sparse, with transaction prices mostly hovering around the quoted price range. Transactions for downstream products such as powder were also limited, and transaction prices showed a slight downward trend.

5 hours ago

22 hours ago

Magnesium Ingot Transactions Increased, Rigid Demand Support Became More Evident, and a One-Sided Market Trend Was Unlikely in the Short Term [SMM Spot Magnesium Ingot Flash Report]

[Magnesium Ingot Transactions Increased Significantly, Rigid Demand Support Became More Evident, and a One-Way Market Was Unlikely in the Short Term] Today, quotations in the main production areas for 99.90% magnesium ingot were 16,600-16,700 yuan / mt, and low-priced supply in the market increased.

22 hours ago