Cost support weakens, spot price drops slightly [[SMM Manganese Silicon Futures Review]]

Published: Apr 28, 2025 17:33

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【SMM Ferromanganese-Silicon Futures Review: Weakened Cost Support Leads to Slight Drop in Spot Price】The SM2509 contract opened at 5,806 yuan/mt, experienced sideways movement in the morning session, and eventually closed at 5,804 yuan/mt, down 0.58%. The daily high was 5,818 yuan/mt, and the low was 5,778 yuan/mt. Trading volume reached 160,820 lots, with open interest at 389,878. There was a slight inventory buildup of manganese ore at ports, while downstream alloy plants exhibited sluggish purchasing activity, causing the spot price to decline under pressure. With weakened cost support, SiMn plants were less willing to sell actively before the holiday, and downstream demand for SiMn purchases remained weak, resulting in the spot price being in the doldrums.

April 28 News: The SM2509 contract opened at 5,806 yuan/mt. After the morning session, it experienced sideways movement and eventually closed at 5,804 yuan/mt, down 0.58%. The daily high was 5,818 yuan/mt, and the low was 5,778 yuan/mt. Trading volume was 160,820 lots, and open interest was 389,878. There was a slight inventory buildup of manganese ore at ports. Purchases by downstream alloy plants were sluggish, and spot prices were under pressure. Cost support weakened. Before the holiday, SiMn plants had a weak willingness to sell actively. Downstream demand for SiMn purchases was weak, and spot prices were in the doldrums.

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