The market was cautious and took a wait-and-see approach at the beginning of the week, with spot prices remaining stable for the time being. [SMM Manganese Silicon Futures Review]

[SMM Ferromanganese-Silicon Futures Review: Market Adopts Cautious Wait-and-See Approach at Start of Week, Spot Prices Remain Stable] The SM2509 contract opened at 5,502 yuan/mt, fluctuated upward after the morning session, and eventually closed at 5,552 yuan/mt, up 0.04%. The daily high was 5,592 yuan/mt and the low was 5,482 yuan/mt. Trading volume was 200,978 lots, and open interest was 441,323. On the raw material side, ore merchants' quotations fluctuated relatively small, with active inquiries in the market, and the spot manganese ore market remained stable. On the spot side, most SiMn plants adopted a cautious wait-and-see sentiment at the start of the week, with both upstream and downstream sectors waiting for mainstream steel tenders to enter the market.