SiMn futures fluctuated upward, while SiMn prices remained stable [SMM SiMn Futures Review]

Published: Sep 5, 2025 17:41

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On September 5, the SM2601 contract opened at 5,742 yuan/mt and closed at 5,844 yuan/mt, up 2.10%, with the highest price at 5,904 yuan/mt and the lowest at 5,714 yuan/mt. Trading volume reached 253,536 lots, while open interest stood at 324,869 lots. The futures market performed well today, fluctuating upward. Cost side, manganese ore prices remained at a relatively high level, while the expected eighth round of coke price increases largely failed to materialize. Spot prices temporarily stabilized, with overall cost support still intact. Supply side, current factory production showed relatively small fluctuations, with spot resources remaining tight. Most factories operated near breakeven levels, already experiencing losses. Due to the moderate performance of futures today, factories showed slightly firmer sentiment in low-price sales, keeping spot prices stable for now. Demand side, most steel mills had resumed production, with follow-up mills demonstrating actual demand for SiMn alloy.

September 5 (SMM) - The SM2601 contract opened at 5,742 yuan/mt and finally settled at 5,844 yuan/mt, up 2.10%. The highest price reached 5,904 yuan/mt while the lowest stood at 5,714 yuan/mt. Trading volume was 253,536 lots with open interest at 324,869 lots. The futures market performed well today, fluctuating upward. Cost side, manganese ore prices remained at a relatively high level, while the expected eighth round of coke price increase basically fell through. Spot prices temporarily stabilized, with overall cost support still intact. Supply side, current plant operating rates showed relatively small fluctuations, with tight spot cargo availability. Most plants hovered near breakeven levels, already experiencing losses. As futures performed moderately today, plants showed slightly firmer sentiment in low-price sales, keeping spot prices temporarily stable. Demand side, most steel mills resumed production, tracking the actual absorption effect of SiMn alloy by steel mills.

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