Futures Fluctuate Upward While the SiMn Alloy Spot Market Remains Consolidated [SMM SiMn Alloy Futures Review]

January 9 News: The SM2505 contract opened at 6,026 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,058 yuan/mt, with a price change of 0.33%. The daily high was 6,098 yuan/mt, and the low was 6,008 yuan/mt. Trading volume was 105,702 lots, and open interest was 338,361. Raw material side, the manganese ore market saw sluggish transactions, with downstream alloy plants cautious in procurement. Manganese ore spot prices remained stable. Spot side, many SiMn alloy plants held back from selling. The first round of inquiries for mainstream steel tenders fell short of expectations. Downstream buyers were cautious, mostly waiting for steel mill pricing.

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