Insufficient downstream demand support leads to a slight decrease in SiMn alloy prices [SMM SiMn Market Review]

The SM2501 contract opened at 6,404 yuan/mt, fluctuated within a range in the morning session, and finally closed at 6,376 yuan/mt, down 0.47%. The daily high was 6,478 yuan/mt, and the low was 6,362 yuan/mt. Trading volume was 180,878 lots, and open interest was 317,954 lots. Currently, some SiMn alloy producers have a strong willingness to sell, causing a slight decrease in spot SiMn alloy prices. However, some producers' quotes remain firm, and actual transactions are sparse. The downstream demand for SiMn alloy remains cautious, and further attention is needed on future steel mills' procurement demand for SiMn alloy.