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

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.