Mainstream Steel Bidding Enters the Market, with Most Participants Adopting a Wait-and-See Attitude [SMM Manganese Silicon Futures Review]

[SMM SiMn Alloy Futures Review: Major Steel Tenders Enter the Market, Most Participants Remain on the Sidelines] The SM2505 contract opened at 6,046 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,028 yuan/mt, down 0.30%. The daily high was 6,060 yuan/mt, and the low was 6,022 yuan/mt. Trading volume was 60,871 lots, and open interest was 352,984. On the raw material side, the manganese ore market saw average transaction activity, with Gabonese manganese ore prices rising slightly, while other manganese ore varieties remained stable. On the spot side, SiMn alloy producers showed weak willingness to sell, with many holding back from selling. Major steel tenders entered the market, and most participants remained on the sidelines.