Futures Market Fluctuates at High Levels, SiMn Alloy Market Fluctuates Upward [SMM SiMn Alloy Futures Review]

[SMM SiMn Alloy Futures Review: Futures Market Fluctuates at High Levels, SiMn Alloy Market Fluctuates Upward] The SM2505 contract opened at 7,280 yuan/mt, fluctuated upward after the morning session, and finally closed at 7,312 yuan/mt, up by 2.84%. The daily high was 7,346 yuan/mt, and the low was 7,252 yuan/mt. Trading volume reached 883,759 lots, with an open interest of 602,771 lots. Raw material side, manganese ore prices remained firm, with miners slightly raising external quotations, but actual market transactions followed up slowly. Spot side, supported by strong costs, many SiMn alloy plants held back from selling and maintained a wait-and-see attitude. Demand side, steel mills resumed operations slowly after the holiday, showing weak enthusiasm for SiMn alloy procurement. The market is still largely waiting for progress in mainstream steel tenders.