SiMn Prices Remain Stable, Focus on Mainstream Steel Tender Prices [SMM SiMn Futures Review]

Published: Sep 8, 2025 17:56

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September 8 (SMM) - The SM2601 contract opened at 5,806 yuan/mt and closed at 5,840 yuan/mt, up 0.41%, with the highest price at 5,860 yuan/mt and the lowest at 5,768 yuan/mt. Trading volume reached 138,580 lots, while open interest stood at 322,510 lots. The futures market performed well today, fluctuating upward. Cost side, manganese ore prices remained at a relatively high level, while the anticipated eighth round of coke price increases largely failed to materialize. Spot prices held steady for now, with overall cost support still intact. Supply side, the SiMn market exhibited strong wait-and-see sentiment early in the week. However, as futures fluctuated upward, mills showed slightly firmer willingness to sell at low prices, keeping spot prices stable. Demand side, most steel mills have resumed production, with market participants closely monitoring the guidance from mainstream steel tenders.

September 8 news: The SM2601 contract opened at 5,806 yuan/mt and closed at 5,840 yuan/mt, up 0.41%. The daytime session's highest price was 5,860 yuan/mt, while the lowest price was 5,768 yuan/mt. Trading volume reached 138,580 lots, with open interest at 322,510 lots. The futures 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, SiMn market sentiment was predominantly wait-and-see early in the week. Given the futures' upward fluctuation, mills showed slightly firmer reluctance to sell at low prices, keeping spot prices steady. Demand side, most steel mills resumed production, with market focus on price guidance from mainstream steel tenders.

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