The futures market continued to fluctuate upward, while the spot price remained stable. [SMM Manganese Silicon Futures Review]

SMM SiMn Alloy Futures Review: Futures Market Continues to Fluctuate Upward, Spot Prices Remain Stable The SM2505 contract opened at 6,144 yuan/mt, fluctuated upward after the morning session, and finally closed at 6,146 yuan/mt, up 0.66%. The daily high was 6,210 yuan/mt, and the low was 6,140 yuan/mt. The trading volume was 243,820 lots, and the open interest was 353,494. Supply side, ore prices continued to fluctuate downward, with insufficient support from SiMn alloy raw materials. Most SiMn alloy producers held back from selling, with a low willingness to sell at low prices. Demand side, downstream steel mills showed weak enthusiasm for SiMn alloy procurement, resulting in sluggish market transactions. SiMn alloy spot prices remained stable.