Futures market fluctuates downward, SiMn price drops slightly [SMM Manganese-Silicon Futures Review]

[SMM Manganese-Silicon Futures Review: Futures Market Fluctuates Downward, SiMn Prices Drop Slightly] The SM2509 contract opened at 5,730 yuan/mt. After the morning session, it fluctuated downward and eventually closed at 5,668 yuan/mt, marking a 3.21% decline. The daily high was 5,750 yuan/mt, and the low was 5,642 yuan/mt. Trading volume reached 418,077 lots, with open interest at 435,576. On the raw material side, inventory buildup continued at manganese ore ports, and alloy plants showed weak enthusiasm for purchasing manganese ore, with spot prices remaining stable for the time being. On the spot side, downstream steel mills adopted a cautious approach to purchases, driving down prices for SiMn. Sellers of SiMn were under pressure to slightly lower their quotes.