The futures market fluctuated downward, while the spot market remained stable temporarily. [SMM Manganese Silicon Futures Review]

SMM SiMn Alloy Futures Review: Futures Market Fluctuated Downward, Spot Market Remained Stable. The SM2505 contract opened at 6,122 yuan/mt, fluctuated downward in the morning session, and finally closed at 6,108 yuan/mt, down 0.29%. The daily high was 6,160 yuan/mt, and the low was 6,106 yuan/mt. The trading volume was 166,731 lots, and the open interest was 432,413. On the raw material side, the purchasing enthusiasm of downstream demand for manganese ore was weak, and the spot price of manganese ore remained stable. On the spot side, the cost support for SiMn alloy was insufficient, downstream demand for SiMn alloy was sluggish, and the price of SiMn alloy lacked upward driving factors. The market remained stable for the time being.