Futures market fluctuates upward, market participants maintain wait-and-see sentiment [SMM Manganese Silicon Futures Review]

[SMM Ferromanganese Futures Review: Futures Market Fluctuates Upward, Market Participants Hold Wait-and-See Sentiment] The SM2509 contract opened at 5,456 yuan/mt, fluctuated upward after the morning session, and eventually closed at 5,502 yuan/mt, down 2.12%. The daily high was 5,532 yuan/mt, and the low was 5,398 yuan/mt. Trading volume was 314,831 lots, and open interest was 487,679. On the futures side, influenced by the overall hold up well of the ferrous metals series, the ferromanganese futures market fluctuated upward. On the spot side, SiMn holders mostly held a wait-and-see sentiment, and spot prices remained stable. Downstream steel mills mostly maintained a cautious purchasing sentiment, waiting for the progress of the new round of steel tenders.