Mine-Side Support Remains Weak, Spot Prices Temporarily Stable [SMM Manganese Silicon Futures Review]

Published: Mar 12, 2025 15:53

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[SMM SiMn Alloy Futures Review: Weak Support From Mines, Spot Prices Remain Stable] The SM2505 contract opened at 6,358 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,322 yuan/mt, down 0.19%. The daily high was 6,364 yuan/mt, and the low was 6,308 yuan/mt. Trading volume reached 191,941 lots, with an open interest of 418,169. On the raw material side, miners' quotations remained relatively firm, with high-grade manganese oxide ore prices at a relatively high level. However, alloy plants mostly pressed for lower purchase prices, leading to slow follow-up in manganese ore transactions. On the spot side, some SiMn alloy plants showed weak willingness to sell, while downstream steel mills were cautious in purchasing SiMn alloy, resulting in a sluggish market.

March 12 News: The SM2505 contract opened at 6,358 yuan/mt, experienced sideways movement in the morning session, and finally closed at 6,322 yuan/mt, down 0.19%. The daily high was 6,364 yuan/mt, and the low was 6,308 yuan/mt. Trading volume reached 191,941 lots, and open interest stood at 418,169 lots. On the raw material side, miners' quotes remained relatively firm, with high-grade manganese oxide ore prices at a relatively high level. However, alloy plants mostly pushed for lower purchase prices, leading to slow follow-up in manganese ore transactions. On the spot side, some SiMn alloy plants showed weak willingness to sell, while downstream steel mills were cautious in purchasing SiMn alloy, resulting in a sluggish market.

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