Futures Market Sideways Movement Spot Market Stabilizes Temporarily [SMM Silicon Manganese Futures Review]

SMM SiMn Futures Review: Futures Market Fluctuates Rangebound, Spot Market Stabilizes SM2505 contract opened at 6,094 yuan/mt, fluctuated rangebound in the early session, and finally closed at 6,122 yuan/mt, up 0.82%. The highest price of the day was 6,158 yuan/mt, and the lowest was 6,094 yuan/mt. Trading volume was 172,956 lots, and open interest was 440,388. At the beginning of the week, the market mostly adopted a wait-and-see attitude. Raw material side, the manganese ore market saw quiet transactions, with spot prices stabilizing. On the spot side, due to weakened cost support, silicon manganese plants struggled to rise, and downstream steel mills showed weak purchasing enthusiasm for silicon manganese.