The SiMn futures market declined slightly, with most manufacturers holding back from selling [SMM manganese-silicon futures review]

  July 28 News: The SM2509 contract opened at 5850 and closed at 6028 yuan/mt, down 2.96%. The daily high was 6280 yuan/mt and the low was 5800 yuan/mt. Trading volume was 1,247,227 lots and open interest was 353,406 lots. On the raw material side, manganese ore prices remained high, providing strong cost support. Last Friday, the futures market for SiMn hit the daily limit up. It was learned that a seminar was held by top-tier enterprises in the manganese industry, and participating enterprises had reached a preliminary consensus on the news of achieving a 40% reduction in energy consumption and emissions, which directly contributed to the SiMn futures hitting the daily limit up. At the beginning of the week, most SiMn producers held back from selling. Future price movements will depend on the progress of the meeting's implementation and the futures market trend.