Futures Market Continues to Fluctuate Downward Spot Market Stabilizes for Now [SMM Silicon Manganese Futures Review]

SMM SiMn Futures Review: Futures Market Continues to Fluctuate Downward, Spot Market Stabilizes The SM2505 contract opened at 6,102 yuan/mt, fluctuated downward in the morning session, and finally closed at 6,106 yuan/mt, with a decline of 0.36%. The highest price of the day was 6,124 yuan/mt, and the lowest was 6,064 yuan/mt. Trading volume was 175,887 lots, and open interest was 452,623. On the raw material side, high-grade manganese oxide ore faced slight downward pressure, while other types of manganese ore showed relatively small fluctuations. In the spot market, many SiMn alloy producers held back from selling, showing a low willingness to sell at lower prices. Downstream steel mills were cautious in purchasing SiMn, and the spot market stabilized.