The futures market remained in the doldrums before the holiday, while spot prices stabilized temporarily [SMM Manganese-Silicon Futures Review]

[SMM Ferrosilicon Futures Review: Futures Market in the Doldrums Before the Holiday, Spot Prices Remain Stable] The SM2509 contract opened at 5,520 yuan/mt, fluctuated downward after the morning session, and eventually closed at 5,478 yuan/mt, down 1.40%. The daily high was 5,520 yuan/mt, and the low was 5,450 yuan/mt. Trading volume was 256,958 lots, and open interest was 487,256. On the raw material side, the supply surplus of manganese ore persisted, and market transactions were sluggish. On the futures side, the SiMn futures market remained in the doldrums before the holiday, driving spot prices to also weaken. On the spot side, SiMn producers maintained firm quotes, but downstream steel mills were cautious in their SiMn purchases. Attention should still be paid to the actual transaction situation in the SiMn market after the holiday.