Futures market holds up well, spot price remains stable for now [SMM Manganese Silicon Futures Review]

[SMM Ferromanganese-Silicon Futures Review: Futures Market Holds Up Well, Spot Price Remains Stable] The SM2509 contract opened at 5,508 yuan/mt, fluctuated upward after the morning session, and eventually closed at 5,482 yuan/mt, up 0.48%. The daily high was 5,508 yuan/mt, and the low was 5,438 yuan/mt. Trading volume was 222,232 lots, and open interest was 476,759. On the raw material side, manganese ore inventory at ports continued to build up, alloy plants' purchases of manganese ore were sluggish, and spot prices dropped slightly. On the spot side, most SiMn plants held back from selling, and the market was dominated by wait-and-see sentiment.