Futures market continues to be in the doldrums, with the spot market mostly adopting a wait-and-see sentiment [SMM Manganese Silicon Futures Review]

[SMM Ferromanganese Futures Review: Futures Market in the Doldrums, Wait-and-See Sentiment Prevails in Spot Market] The SM2509 contract opened at 5,550 yuan/mt, fluctuated downward after the morning session, and eventually closed at 5,486 yuan/mt, down 1.22%. The daily high was 5,562 yuan/mt, and the low was 5,476 yuan/mt. Trading volume was 245,672 lots, and open interest was 448,864. On the raw material side, most miners maintained relatively stable quotes, with individual manganese ore varieties priced based on actual transactions, leading to a slight decline in spot prices. On the spot side, most SiMn producers held back from selling, with steel tenders being launched one after another, and many waiting for mainstream steel tenders to enter the market.