Futures Market Fluctuates Downward, SiMn Alloy Market Remains Consolidated [SMM Silicon Manganese Futures Review]

【SMM SiMn Alloy Futures Review: Futures Market Fluctuate Downward, SiMn Alloy Market Remains Consolidated】 SM2505 contract opened at 6,318 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,190 yuan/mt, down 2.21%. The daily high was 6,322 yuan/mt, and the low was 6,160 yuan/mt. Trading volume reached 370,949 lots, and open interest stood at 441,518 lots. Raw material side, the manganese ore market showed relatively small fluctuations at the beginning of the week, with the spot market running steadily for now. Spot side, many SiMn alloy plants held back from selling, with factories showing a weak willingness to sell. Downstream steel mills were cautious in their purchases, and most participants maintained a wait-and-see sentiment.