Futures of manganese-silicon alloy fluctuated considerably, while spot price rose slightly [SMM manganese-silicon futures review]

On August 12th: The SM2509 contract opened at 6,130 yuan/mt and closed at 6,110 yuan/mt, up by 0.16%, with a daily high of 6,152 yuan/mt and a low of 6,074 yuan/mt. Trading volume reached 259,017 lots, and open interest stood at 203,938 lots. Affected by the expected procurement and transportation restrictions policy at Tianjin Port in late August, many SiMn alloy plants in the region have chosen to pick up goods in advance recently. The spot price of manganese ore in the northern market has risen slightly, with strong cost support. Today, the futures market fluctuated considerably, with a warm atmosphere in the SiMn market and a slight increase in spot prices. Attention should be paid to the guiding role of steel procurement pricing on the market.