SiMn Alloy Futures Prices Continue to Decline, Spot Prices Fluctuate Downward [SMM SiMn Alloy Futures Review]

Published: Feb 14, 2025 15:30 (GMT+8)

Save

[SMM SiMn Alloy Futures Review: SiMn Alloy Futures Prices Continue to Decline, Spot Prices Fluctuate Downward] The SM2505 contract opened at 6,440 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,354 yuan/mt, down 1.73%. The daily high was 6,480 yuan/mt, and the low was 6,350 yuan/mt. Trading volume reached 512,480 lots, and open interest stood at 464,141. On the raw material side, alloy plants showed weak acceptance of high-priced manganese ore, and manganese ore spot prices fluctuated downward. Cost support weakened, leading to a downward fluctuation in manganese ore prices. SiMn alloy plants mostly maintained a wait-and-see sentiment, with limited willingness to actively offer prices. The first round of mainstream steel tender inquiries has yet to be announced, and market participants generally adopted a cautious wait-and-see sentiment.

February 14 News: The SM2505 contract opened at 6,440 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,354 yuan/mt, down 1.73%. The daily high was 6,480 yuan/mt, and the low was 6,350 yuan/mt. Trading volume reached 512,480 lots, and open interest was 464,141.

On the raw material side, alloy plants showed weak acceptance of high-priced manganese ore, and manganese ore spot prices fluctuated downward. Cost support weakened, leading to a downward fluctuation in manganese ore prices. SiMn alloy plants mostly maintained a wait-and-see sentiment, with limited willingness to actively quote prices. The first-round inquiry prices for mainstream steel tenders have not yet been announced, and market participants generally adopted a cautious wait-and-see sentiment.

》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 for 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

13 hours ago

Short-Term Support Finally Breached! The International Molybdenum Oxide Market Now in Free Fall?! [SMM Analysis]

The $33/lb Mo support was breached on October 21, with midday bids falling to $32.70–32.80/lb Mo and an unconfirmed deal heard at $32.75/lb Mo. With overseas supply yet to tighten, Asian demand subdued and buyers’ cost tolerance falling, can the high-$32 range revive buying as annual contract talks approach? Let’s......

13 hours ago

15 hours ago

Short-term support officially declared lost! International molybdenum oxide plunges into a crash?! [SMM Analysis]

The $33/lb Mo level, once seen by the market as short-term support, was finally broken on October 21. Inquiries in the afternoon session slipped further to $32.7-32.8/lb Mo, and a deal at $32.75/lb Mo was also reported in the market, though it remains to be verified. Ex-China supply has not tightened significantly, while Asian demand has yet to pick up, and the raw material costs buyers can bear continue to decline. With annual long-term contract negotiations approaching, whether the $32 high can attract buying again remains to be seen...

15 hours ago

MMi Daily Iron Ore Report (October 21)

Today's iron ore market showed a flat trend, with the main contract I2701 on the DCE closing at 681.5 yuan per ton, unchanged from the previous trading day. The spot prices at Qingdao Port remain largely stable, with traders showing good activity and steel mills making purchases based on demand.

15 hours ago