Futures Market Fluctuates Downward Spot Market Stabilizes Temporarily [SMM Manganese Silicon Futures Review]

SMM SiMn Futures Review: Futures Market Fluctuates Downward, Spot Market Stabilizes SM2505 contract opened at 6,120 yuan/mt, fluctuated downward in the early session, and finally closed at 6,072 yuan/mt, down 0.39%. The highest price of the day was 6,120 yuan/mt, and the lowest was 6,052 yuan/mt. Trading volume was 158,808 lots, and open interest was 453,474. On the raw material side, downstream alloy plants showed weak purchasing interest in manganese ore, with spot prices of manganese ore stabilizing. In the spot market, SiMn producers were reluctant to quote actively, and steel mills showed low enthusiasm for purchasing SiMn, indicating a tug-of-war between sellers and buyers in the SiMn market.