Futures Market Fluctuates Downward, SiMn Alloy Market Remains Stable [SMM SiMn Alloy Futures Review]

【SMM SiMn Alloy Futures Review: Futures Market Fluctuated Downward, SiMn Alloy Market Remained Stable】 The SM2505 contract opened at 6,340 yuan/mt, fluctuated downward after the morning session, and finally closed at 6,338 yuan/mt, down 0.03%. The daily high was 6,440 yuan/mt, and the low was 6,330 yuan/mt. Trading volume was 281,678 lots, and open interest was 427,343 lots. Raw material side, manganese ore inventory at ports remained relatively low, alloy plants showed weak sentiment toward high-priced manganese ore purchases, and miners had a relatively weak willingness to offer actively. Spot side, alloy plants' operating rates fluctuated relatively small, still supported by costs, and their willingness to sell at low prices was relatively weak. Downstream steel mills mostly adopted a wait-and-see attitude, awaiting the entry of mainstream steel tenders.