Futures Hold Up Well, SiMn Prices Stabilize [SMM Manganese Silicon Futures Review]

Published: Aug 25, 2025 18:00

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On August 25, the SM2601 contract opened at 5,886 yuan/mt and closed at 5,898 yuan/mt, with a 1.55% increase. The highest price was 5,914 yuan/mt and the lowest price was 5,844 yuan/mt. Trading volume reached 227,280 lots, and open interest stood at 300,427 lots. Futures held up well today, and spot SiMn alloy prices remained stable. Cost side, ore prices stabilized after last week's decline, maintaining cost support. SiMn alloy plants are still mainly fulfilling orders, with relatively small inventory pressure and low willingness to sell at low prices.

On August 25, the SM2601 contract opened at 5,886 yuan/mt and finally closed at 5,898 yuan/mt, with a 1.55% increase. The highest price of the day was 5,914 yuan/mt, and the lowest price was 5,844 yuan/mt. The trading volume was 227,280 lots, and the open interest was 300,427 lots. The futures held up well today, and spot prices for SiMn alloy remained stable. Cost side, manganese ore prices stabilized after last week's decline, still providing cost support. Currently, SiMn alloy factories are mainly fulfilling orders, facing relatively small inventory pressure, and showing low willingness to sell at lower prices.

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