HBIS Procurement Volume Rises, Focus on First Round Inquiry Price of Steel Tender [SMM Silicon Manganese Futures Review]

On September 9, the SM2601 contract opened at 5,840 yuan/mt and closed at 5,838 yuan/mt, up 0.55%. The highest price reached 5,864 yuan/mt, while the lowest was 5,816 yuan/mt. Trading volume stood at 119,207 lots, with open interest at 318,548 lots. The futures fluctuated at relatively high levels during the daytime session. Cost side, manganese ore prices and coke prices remained at relatively high levels, maintaining overall cost support. Supply side, as the futures started the week trading higher than last week's levels with fluctuations, producers showed slightly firmer selling sentiment. However, the SiMn market still exhibited strong wait-and-see sentiment, with spot prices holding steady. Demand side, HBIS Group announced a September SiMn procurement volume of 17,000 mt, compared to August's 16,100 mt, showing an increase. Market participants are closely watching HBIS's pricing guidance.