Futures market fluctuates upward, spot price remains stable for now [SMM Manganese Silicon Futures Review]

Published: May 12, 2025 15:34

Save

[SMM Manganese-Silicon Futures Review: Futures Market Fluctuates Upward, Spot Prices Remain Stable] The SM2509 contract opened at 5,826 yuan/mt, fluctuated upward after the morning session, and eventually closed at 5,866 yuan/mt, up 1.80%. The daily high was 5,916 yuan/mt, and the low was 5,762 yuan/mt. Trading volume was 336,948 lots, and open interest was 381,170. On the raw material side, the manganese ore market saw sluggish transactions, with alloy plants driving down prices when purchasing manganese ore, leading to a continuous decline in spot prices. On the spot side, the futures market held up well, with SiMn plants showing weak willingness to quote prices actively. Downstream steel mills' purchases were sluggish, and the market was mostly in a wait-and-see attitude.

May 12 news: The SM2509 contract opened at 5,826 yuan/mt. After the morning session, it fluctuated upward, eventually closing at 5,866 yuan/mt, up 1.80%. The daily high was 5,916 yuan/mt, and the low was 5,762 yuan/mt. Trading volume was 336,948 lots, and open interest was 381,170. On the raw material side, the manganese ore market saw sluggish transactions, with alloy plants driving down prices when purchasing manganese ore, leading to a continuous decline in spot prices. On the spot side, the futures market held up well, with SiMn plants showing weak willingness to quote prices actively. Downstream steel mills were sluggish in their purchases, and the market was mostly in a wait-and-see mood.

》Subscribe to view SMM metal spot historical prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

19 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

19 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

19 hours ago