Futures fluctuate upward, SiMn prices remain stable [SMM Silicon Manganese Futures Review]

September 15 (SMM) - The SM2601 contract opened at 5,830 yuan/mt and closed at 5,906 yuan/mt, up 1.20%. The highest price was 5,922 yuan/mt and the lowest was 5,826 yuan/mt during the daytime session. The trading volume was 184,056 lots and the open interest was 327,726 lots. Driven by the ferrous market, the futures fluctuated upward today. Cost side, manganese ore prices edged up recently. Supply side, the wait-and-see sentiment remained strong in the SiMn market, with most producers holding back from selling. The spot prices held stable. Demand side, HBIS Group’s first round of SiMn inquiry for September was 5,800 yuan/mt, down significantly from the August pricing of 6,200 yuan/mt. Market participants will keep a close eye on HBIS’s final pricing for market direction.