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

[SMM Manganese-Silicon Futures Review: Futures Market Fluctuates Downward, Spot Prices Remain Stable] The SM2509 contract opened at 5,606 yuan/mt. After the morning session, it experienced sideways movement and eventually closed at 5,606 yuan/mt, down 0.25%. The daily high was 5,636 yuan/mt, and the low was 5,590 yuan/mt. Trading volume reached 215,126 lots, with open interest at 442,809. On the raw material side, alloy plants predominantly drove down prices when purchasing manganese ore, leading to a slight decline in spot prices. On the spot side, some SiMn plants maintained firm quotes, but transactions were sluggish. Currently, the SiMn market lacks supportive factors, and spot prices are running stable for the time being.