Cost Support Strengthens, SiMn Alloy Market Fluctuates Upward [SMM SiMn Daily Review]

Published: Feb 6, 2025 16:44

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[SMM SiMn Alloy Futures Review: Cost Support Strengthened, SiMn Alloy Market Fluctuates Upward] The SM2505 contract opened at 6,810 yuan/mt, fluctuated upward after the morning session, and finally closed at 7,292 yuan/mt, up by 7.49%. The daily highest price was 7,302 yuan/mt, and the lowest was 6,758 yuan/mt. Trading volume reached 1.1725 million lots, and open interest stood at 571,881 lots. On the raw material side, influenced by news of reduced manganese ore shipments, miners' sentiment to stand firm on quotes surged, and manganese ore spot prices rose slightly. On the spot side, supported by stronger costs, sentiment for SiMn alloy spot prices to follow the upward trend was strong. The willingness to sell at low prices in the market was relatively low, with some holders mostly maintaining a wait-and-see attitude and refraining from quoting. Further attention is needed on the progress of subsequent steel tenders and the follow-up on actual manganese ore transactions.

February 6 News: The SM2505 contract opened at 6,810 yuan/mt, fluctuated upward after the morning session, and finally closed at 7,292 yuan/mt, up 7.49%. The daily high was 7,302 yuan/mt, and the low was 6,758 yuan/mt. Trading volume reached 1.1725 million lots, and open interest stood at 571,881. On the raw material side, influenced by news of reduced manganese ore shipments, miners' sentiment to stand firm on quotes surged, and manganese ore spot prices rose slightly. On the spot side, supported by strong cost backing, SiMn alloy spot prices showed strong sentiment to follow the upward trend, with low willingness to sell at lower prices in the market. Some holders maintained a wait-and-see attitude and refrained from quoting. Further attention is needed on the progress of subsequent steel tenders and actual manganese ore transaction follow-ups.

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