Futures Market Fluctuates Upward, SiMn Alloy Market Remains Stable [SMM Silicon Manganese Futures Review]

【SMM SiMn Alloy Futures Review: Futures Fluctuate Upward, SiMn Alloy Market Temporarily Stable】 The SM2505 contract opened at 6,324 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,356 yuan/mt, up 0.44%. The daily high was 6,372 yuan/mt, and the low was 6,262 yuan/mt. Trading volume reached 295,030 lots, and open interest stood at 418,301. Raw material side, the manganese ore market quotations appeared slightly chaotic, with mixed high and low prices, while manganese ore prices remained temporarily stable. Spot side, SiMn alloy producers showed weak willingness to actively quote, with manganese ore costs still providing support, and SiMn alloy holders showing weak willingness to sell at low prices. Demand side, mainstream steel tenders entered the market, but steel mills showed weak enthusiasm for SiMn alloy procurement and mostly maintained a wait-and-see attitude.