Futures Fluctuate Downward While the Spot Market Remains Stable [SMM Manganese Silicon Futures Review]

Published: Jan 6, 2025 16:48

Save

[SMM SiMn Alloy Futures Review: Futures Fluctuate Downward, Spot Market Remains Stable] SM2505 contract opened at 6,080 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,068 yuan/mt, down 0.62%. The daily high was 6,116 yuan/mt, and the low was 6,054 yuan/mt. Trading volume reached 85,360 lots, and open interest stood at 339,397. Raw material side, miners' quotations at the beginning of the week were mainly cautious, maintaining last week's firm stance, with weak willingness to sell at low prices. Spot side, SiMn alloy was affected by the downward fluctuation in the futures market, and the spot market continued to fluctuate downward. SiMn alloy producers showed weak willingness to sell at low prices. Downstream steel mills remained cautious in purchasing SiMn alloy, with all parties mostly adopting a wait-and-see attitude.

January 6 News: The SM2505 contract opened at 6,080 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,068 yuan/mt, down 0.62%. The daily high was 6,116 yuan/mt, and the low was 6,054 yuan/mt. Trading volume was 85,360 lots, and open interest was 339,397. Raw material side, miners' quotes at the beginning of the week were mainly on a wait-and-see basis, with prices remaining firm as last week, and willingness to sell at low prices was weak. Spot side, SiMn alloy in the spot market continued to fluctuate downward, influenced by the futures market's weak performance. SiMn alloy producers showed weak willingness to sell at low prices. Downstream, steel mills were cautious in purchasing SiMn alloy, with most parties adopting a wait-and-see attitude.

》Subscribe to View SMM Historical Spot Metal Prices

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

19 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

19 hours ago

20 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

20 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

20 hours ago