Futures market experiences sideways movement, spot price remains stable for the time being [SMM Manganese Silicon Futures Review]

[SMM Ferrosilicon Manganese Futures Review: Futures Market Experiences Sideways Movement, Spot Prices Remain Stable] The SM2509 contract opened at 5,860 yuan/mt. After the morning session, it experienced sideways movement and eventually closed at 5,858 yuan/mt, down 0.17%. The daily high was 5,886 yuan/mt, and the low was 5,818 yuan/mt. Trading volume was 210,575 lots, and open interest was 381,074. Cost support for SiMn has strengthened, and SiMn producers have a strong sentiment to stand firm on quotes. However, the first round of inquiries in mainstream steel tenders fell short of expectations. SiMn producers have a weak willingness to actively quote in the spot market. Various market participants are adopting a wait-and-see attitude, awaiting the pricing situation in mainstream steel tenders.