Double support from cost and futures, market sentiment for SiMn is optimistic [SMM SiMn futures review]

  July 14 News: The SM2509 contract opened at 5748 yuan/mt and closed at 5782 yuan/mt, up 0.14%. The daily high was 5800 yuan/mt and the low was 5720 yuan/mt. Trading volume was 211,846 lots, and open interest was 358,988 lots. On the raw material side, market offers for manganese ore remained high without signs of loosening, resulting in strong cost support for SiMn and reluctance to sell at low prices. Additionally, the recent positive trend in the SiMn futures market has boosted the confidence of producers, who have a strong reluctance to budge on prices. In the short term, spot prices are more likely to rise than fall, and producers' bargaining power may strengthen.